Private LastKey As Integer
 
Private Sub UserForm_Keydown(ByVal KeyCode As MSForms.ReturnInteger, ByVal _
  Shift As Integer)
 
    LastKey = KeyCode
    If KeyCode = 87 Then
        Image1.Top = Image1.Top - 20
        Do While UserForm1.Image1.Top > 54
            UserForm1.Image1.Top = UserForm1.Image1.Top - 20
            UserForm1.Repaint
            Application.Wait Now + TimeSerial(0, 0, 1)
            DoEvents
            If LastKey = 83 Then Exit Do
        Loop
    End If
 
End Sub

Gruss,

Zardoz