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After inserting an AutoShape or image into your slide, very precise modification to that object may be necessary for an appropriate look. For example, after entering text into an AutoShape, you may want to reshape that object without modifying the text. This document explains how to resize your AutoShape to fit text and scale objects to an appropriate size.
When working with your slides, you must select the objects you want to manipulate. To select an object, simply click on it. Once an object is selected, you can add text, rotate it, change the shape or color, or move it to another location.
Hold down the [Shift] key
Click on each of the objects you want to work with
Hold down the [Shift] key
Click the object you want to deselect
If you have an AutoShape which contains text, you may want it to resize automatically when the text size changes. You can adjust the AutoShape size to fit the text inside. Then, if you reduce the size of your text, the AutoShape will automatically resize to fit around the text. For information on how to insert text into an object, see Drawing in Office XP.
NOTE:You can only insert text into an AutoShape. PowerPoint does not give the Add Text option to images which are inserted into the presentation.
Select the text within the object you want to adjust

From the Format menu, select AutoShape...
The Format Autoshape dialog box appears.
Select the Text Box tab

Select Resize AutoShape to fit text
To manipulate how far the object will appear from the text, adjust the Internal margin settings
OPTIONAL: If you want to preview the changes, click PREVIEW
To accept the changes, click OK
The Scale command allows you to enlarge or reduce an object by very precise amounts while retaining its original proportions.
Select the object you want to scale
From the Format menu, select the option according to the object selected
For shapes, select AutoShape...
For images, select Picture...
The Format AutoShape or Format Picture dialog box appears, respectively.

Select the Size tab
In the Scale section of the dialog box, in the Height and Width text boxes, type a number for the percentage of scaling
If you want to make the object bigger, type a number greater than 100; if you want to reduce the size of the object, type a number less than 100.
To maintain the formatted height and width percentages whenever you resize the object, select Lock aspect ratio
To find the percentage relative to the size of the original object, select Relative to original picture size
To find the best size of your object compared to the slide, select Best scale for slide show
To preview the changes, click PREVIEW
To accept the changes, click OK
OR
To go back to the original proportions, click RESET