There is a Microsoft program called "Microsoft Photo Editor" who is AFAIK in
the OEM 2 version of Windows95, and in all the Win98 boxes. It's a little
wannabe Photoshop program, and it's perfect for the little graphic user like
me.
I just open the pcx file I want, and "save as" to any type I want (jpeg,
gif, bmp, tiff) and this with tools to convert into different palettes,
color mode, resolution and compression.
You may found it at Microsoft website, I don't know.