You assign a name to your image
<img src="default_image.jpg" width="500" height="275" border="1" name="main_img">
Then make links like this:
<a onClick="document.main_img.src='image1.jpg'">Image1</a>
<a onClick="document.main_img.src='image2.jpg'">Image2</a>
<a onClick="document.main_img.src='image3.jpg'">Image3</a>
It's late and this isn't tested, but I'm pretty sure this will work.
Cgraz