Layout/Content Image Help

[eskimo]

Hello all, i was wondering if anyone would be able to tell me how i would be able to make a layout/content box that will increase/decrease in size depending on how much content is in the actual box. An example of this;

http://eskimo.ineedhosting.net/cb.gif

I was told that it takes place in the slicing process, so, would someone be able to guide me on where i should slice on this site? Just say i want to add more content in the area where the four pictures are (forum, news etc.)

http://eskimo.ineedhosting.net/aushl2final2.gif