Title: An analysis of the infrared stellar content of M32 Abstract: We investigate the infrared properties of cool, evolved stars in the local group dwarf elliptical galaxy M32 (NGC 221), using IRAC observations from the Spitzer Space Telescope. Our images resolve the dust-producing asymptotic giant branch population of M32 at 8 microns. These objects are highly enshrouded and have no apparent counterparts in the 1 micron WFPC2 HST images. Using IRAC colour information we can determine the nature of these dusty sources and through the comparisons of the 8 micron luminosity function with globular clusters the number of oxygen rich and carbon rich sources can be estimated giving clues to the global dust injection rate and the life cycle of matter on a galaxy wide scale. Here, we describe the program and present some first results.