Convert any bitmap x-bit color to 16 color in Photoshop 5.5

[deLanz]

How do I easily convert bitmaps that have millions of colors to

only 16 color (not 16-bit, 16 only) with Photoshop? Or do I need

to use another program??? This is for boot logo bitmaps...

[aco Veteran]

I'm using Photoshop 6 but it still should be the same:

1. Open the image
   
2. Click on the Image menu
   
3. Go to Mode > Indexed Color...
   
4. Leave the palette as Local (Selective)
   
5. Change the amount of colours (from 256) to 16 and click OK.