Something

this.createEmptyMovieClip("tester_mc", 1);
fadeIn = function() {
	tester_mc._alpha += 7;
	if (tester_mc._alpha>=100) {
		tester_mc._alpha = 100;
		delete img1_mc.onEnterFrame;
	}
};
fadeOut = function (step, target) {
img1_mc.onEnterFrame = function() {
img1_mc._alpha -= step;
if (img1_mc._alpha<=target) {
img1_mc._alpha = target;
delete this.onEnterFrame;
}
};
};
tester_mc.loadMovie("panaroma.swf");
fadeIn();
fadeOut(5, 0);
tester_mc.gotoAndPlay(2);

stop();