In Office 2007, you can write the email using simple HTML formatting.
If you select text, a toolbar appears allowing to do formatting on the selected text.
To add a hyperlink, enter (or copy/past) the URL, and it will automatically become an active link.
Adding images is currently not supported.
Note: In Office 2000-2003 no HTML editing is supported.
In the mailing list, in the field formathtml, you can indicate if the user is to get email in HTML format (checked/-1) or as plain text (unchecked/0). The mailing program automatically converts HTML text to plain text for users who are known to want their emails in that format, as specified with the formathtml field in the Mailing list.
Note: In Built in mailing lists the formathtml field is managed in the Recipients table.