The mailing list will accept HTML email, unless it is configured not to. You can create your own templates by hand our use resources like the following:
http://themeforest.net/category/marketing/email-templates
http://foundation.zurb.com/emails/email-templates.html
If you wanted to upgrade your mailing list to an inexpensive paid service, you might consider:
mailchimp.com
constantcontact.com
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