este es codigo que uso...
<td align="center" valign="middle" bgcolor="#000066"><font face="Arial" size="3" color="#000000">
<object classid="clsid:D27CDB6E-AE6D-11cf-96B8-444553540000" codebase="http://download.macromedia.com/pub/shockwave/cabs/flash/swflash.cab#version=6,0,29,0" width="408" height="345">
<param name="movie" value="images/kn.swf">
<param name="quality" value="high">
<param name="menu" value="false">
<embed src="images/kn.swf" width="408" height="345" quality="high" pluginspage="http://www.macromedia.com/go/getflashplayer" type="application/x-shockwave-flash" menu="false"></embed></object>
</font></td>
<td align="center" valign="middle" background="images/bg.der.jpg" bgcolor="#66CCFF">
donde el jpg lo veo bien y el swf no..
gracias