Before attempting to create Animated Rollovers
you might want to view the Animated Rollovers Tutorial.

Single Image Rollover
Start here to learn about Animated Rollovers. The single image rollover is the starting block for all the other rollovers. View this demo & its source. Then read the help files before trying the more difficult multiple rollovers.

Multiple: Single Image Rollover
Here we are still swapping only one image at a time, however there are multiple images on the page.

Multiple Position: Single Rollover
Here we use the same rollover images for all links. There are multiple images on the page and we just turn "on" the image that is to be highlighted. This saves on the number of images that need to be downloaded (only 2 in this case).

Multiple Position: Single Rollover (image link)
This is the same as the above example except in this case the link is an "image link" as opposed to being just a text link..

Multiple Rollover: Single Position
Here we have a single image on the page but we swap different images into it, depending on which link is being hovered. This technique is used as a way to describe the links over which the user is hovering.

Multiple Rollover
This combines the above link description technique with an image rollover so the user knows which link is being hovered.

Multiple Rollover
If you really want to go overboard you can highlight the link using all the above rollover techniques.