How do I create a flash template where I can change the picture and the text of the flash?

What flash version are you using? What exactly do you mean by template? You want to have a dynamic application that can display images and text based on external data, or ?

I have Flash 8, and I want to be able to change the img file, and text displayed on the flash through a text file?

Can this be done?

How do I set up the jpg?

it looks something  like this......

I want a variable to point which img to load and what the text should display through the text file

  ________________________________________________________
  |  __________                                                                                         |
  |  |                   |                                                                                         |
  |  |     JPG        |                             TEXT                                                   |
  |  | DYNAMIC  |                         (DYNAMIC)                                              |
  |  |_________ |                                                                                         |
  |  __________ _____________________ ______________________ |

it worked, but how can i get the jpg not to reload the img when it loops, so it looks continuous and smooth

the text displyed does not take the properties set, why is that?

I want a bold 16pt Verdana

you must embed the fonts in the textfield. click embed button in properties. Choose font and size and it will keep. make sure you have not selected use device fonts.
It will not loop, just make sure you have only 1 frame

I have to text fields to fill.  So the animation would be, the picture on the left, then the first text variable displayed, then fades out and the second text variable fades in, and it keeps repeating itself

Can this be achieved?