yes you can convert png to either GIF or JPEG without losing transparency.......
this is done though the help of php lang...
<?php
$src = imagecreatefrompng("original_image.png");
$newImg = imagecreatetruecolor($nWidth, $nHeight);
imagealphablending($newImg, false);
imagesavealpha($newImg,true);
$transparent = imagecolorallocatealpha($newImg, 255, 255, 255, 127);
imagefilledrectangle($newImg, 0, 0, $nWidth, $nHeight, $transparent);
imagecopyresampled($newImg, $im, 0, 0, 0, 0, $nWidth, $nHeight,
$imgInfo[0], $imgInfo[1]);
imagejpeg($newImg,"jpec_test_1.JPG",100);
imagedestroy($src);
imagedestroy($newImg);
?>