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i have to store text and image in a excell and i have to change the image at run time without afftecting the text value. is it possible?

Technically it possible through custom excell creating. 
If you have a treegrid package - you can try to use "tree" column type, which contains from both image and text parts. 
http://dhtmlx.com/docs/products/dhtmlxGrid/doc/articles/Custom_excell_creation.html#grid_cexc