I am running version 04.08.03. I have used the Vendor / Banner module before but for some reason on this new site, the banner images just disconnect. I will go through each vendor and assign the banners etc - it will work fine and when I go back later and all the image links are broken.
I have reset them many times and my Module Definition page isn't showing that an upgrade is available 01.00.00.
Any thoughts?

I have not come across that problem. Are you saying that you create the banners, view the site and the banners display in rotation, then hours later when you return they are no longer displaying? - Do the images still exist within your DNN files?

Yes looking at the site I can see the URL for the banner image is

http://www.vacationlakesregionnh.com/Portals/0/

very strange. - Do you have any module on there that is rewritting URLS? - Is PageBlaster on there? any 301 direct module / URL module?

No. The only thing out of the ordinary we have is Keep Alive which is only pointed at the site. For modules we've added a photo slide show, digirotate and Xmod. Would it have anything to do with a missing Commit statement in the Announcements module?
Can I re-install just the announcements module? Where would I get it. Only see the whole package on DotNet's site.

I don't see how the announcements module could cause this problem, unless other problems have also happened that you are unaware of along with the announcements module. - It maybe worth doing an upgrade on your site as this may fix any potential problems that have occurred. - I would recommend you download your site to a localhost installation and test upgrading.

Individual modules should be available to download from the main downloads page on DotNetNuke