I don't believe so, it just doesn't support those formats.
A very long winded solution...
Borrow or buy a cheap DVD player that does (many cheap ones do), then run a slideshow from it while copying to your DMRE55 on a DVD-RAM, then split the copy into individual chapters for each picture.
(PS. On the earlier Panasonic models, only those with an integrated SD card reader supported JPEG, while the current Panasonic models all support JPEG.)
Cobweb, November 2005