Use the following code:
<OBJECT classid="clsid:D27CDB6E-AE6D-11cf-96B8-444553540000"
codebase="http://download.macromedia.com/pub/shockwave/cabs/flash/swflash.cab#version=6,0,0,0"
WIDTH="320" HEIGHT="240" id="loading1" ALIGN="">
<PARAM NAME=quality VALUE=high>
<PARAM NAME=bgcolor VALUE=#333399>
<PARAM NAME=movie VALUE="#WORKSPACE_IMAGES#loading1.swf">
<EMBED src="#WORKSPACE_IMAGES#loading1.swf" quality="high"
bgcolor="#333399" WIDTH="320" HEIGHT="240"
NAME="loading1" ALIGN=""
TYPE="application/x-shockwave-flash"
PLUGINSPAGE="http://www.macromedia.com/go/getflashplayer">
</EMBED>
</PARAM>
</PARAM>
</PARAM>
</OBJECT>