Problem saving image with border to PDF

[Adam Schweitzer]

Running Framemaker 8p276 (behaviour was the same under p273, but not
under FM 7.2), with Acrobat 8.  
 
I have a document which has a border (just a rectangle) around an image
(as well as some text).  Everything shows up fine in Frame, but when I
save to pdf using file->save as pdf, everything but the image appears.
If I remove the border, the image appears fine.  The "bring to front"
and "send to back" options on the graphics menu don't seem to help.
 
Any ideas what's going on here and how to fix?
 
Thanks,
Adam Schweitzer
Orenda Aerospace Corporation