Dim gr As Graphics
        Dim img As Image = New Bitmap(Me.PictureBox1.Width, _
          Me.PictureBox1.Height)
        Dim path As New Drawing.Drawing2D.GraphicsPath
        path.AddEllipse(0, 30, 100, 100)
        path.AddEllipse(0, 30, 80, 80)
        gr = Graphics.FromImage(img)
        gr.DrawString("foobar", Me.Font, Brushes.Red, 10, 10)
        gr.DrawPath(New Pen(Color.White, 2), path)
        Me.PictureBox1.Image = img
        Dim sfd As New SaveFileDialog
        sfd.ShowDialog()
        Me.PictureBox1.Image.Save(sfd.FileName) '// oder img.Save(...)