In an image reproducing method capable of displaying annotations in virtual space constituted by a group of real panoramic images, if an object for which an annotation is to be displayed falls within the field of view at the position of the observer, the object is adopted as the display position of the annotation. If the object is not within the field of view, then the direction of forward travel of the observer is adopted as the annotation display position. If the object is in a state of transition, then the annotation display position is decided by interpolation.