Hi all,AFAIK, the GBM software (generalised bitmap module, aka "gmbos2") can do that too. It might however require some RTFM and creating scripts on your own - I don't know how much you are into rexx or batch files.
It's worth giving it a try. It's fully command-line driven and can do a lot of the basic manipulation stuff like inserting a text into a picture, clipping, resizing, converting...
Oh yes - and it's FREE... 
For more details and D/L-location see here:
http://www.os2world.com/cgi-bin/news/viewnews.cgi?category=32&id=1148868257
HTH; Greetings
Thomas