How about this?

 Code:
Break on

$objWord = CreateObject("Word.Application")
? @ERROR
? @SERROR

$objDoc = $objWord.Documents.Add()
? @ERROR
? @SERROR

$objSelection = $objWord.Selection
? @ERROR
? @SERROR

$objWord.Visible = True
? @ERROR
? @SERROR

$objShape = $objSelection.InlineShapes.AddPicture(@ScriptDir+"\AEP.png", 0, 1)
? @ERROR
? @SERROR

$nul = $objShape.ConvertToShape()
? @ERROR
? @ERROR

;wdWrapSquare = 0
;wdWrapTight = 1
;wdWrapThrough = 2
;wdWrapNone = 3
;wdWrapTopBottom = 4

$objShape.WrapFormat.Type = 0 ;"wdWrapSquare"
? @ERROR
? @ERROR

$objSelection.TypeText("111")
$objSelection.TypeText(Chr(11))
$objSelection.TypeText("222")
$objSelection.TypeText(Chr(11))
$objSelection.TypeText("333")
$objSelection.TypeText(Chr(11))
$objSelection.TypeText("444")

;Sleep 10

;Quit word
;$objWord.Quit