Install new splash

Boot splash:
https://help.ubuntu.com/community/USplashCustomizationHowto

grub splash:
convert -resize 640x480 -colors 14 gsplash-artwork.png gsplash-artwork.xpm
gzip gsplash-artwork.xpm
put it in /boot
address it in first lines of menu.lst
splashimage (hd0,5)/boot/grub/images/gsplash-artwork.xpm.gz