Download Starter Package – http://www.developphp.com/video/Flash/Dynamic-Circular-Preloader-Tutorial
Learn how to create true dynamic circular(circle shaped) preloaders that go around clockwise or counter-clockwise to show completed loading progress of your flash web content that requires preloading due to its size. Adam is using actionscript 3.0 in his file, but you can use any Actionscript version if you are acquainted with it.
Adam uses a mid level complexity masking maneuver to pull off this otherwise mind boggling exercise in flash. Be sure to give developPHP.com credit for showing you how to rock this skillful expert animation.