Can you make an alpha transparent PNG with C#?

Font f = GetSystemConfiguredFont();
//this sets the text to be rotated 90deg clockwise (i.e. down)
StringFormat stringFormat = new StringFormat { FormatFlags = StringFormatFlags.DirectionVertical };

SizeF size;
// creates 1Kx1K image buffer and uses it to find out how bit the image needs to be to fit the text
using ( Image imageg = (Image) new Bitmap( 1000, 1000 ) )
    size = Graphics.FromImage( imageg ).
    	MeasureString( text, f, 25, stringFormat );

using ( Bitmap image = new Bitmap( (int) size.Width, (int) size.Height ) )
{
    Graphics g = Graphics.FromImage( (Image) image );
    g.FillRectangle( Brushes.White, 0f, 0f, image.Width, image.Height );
    g.TranslateTransform( image.Width, image.Height );
    g.RotateTransform( 180.0F ); //note that we need the rotation as the default is down

    // draw text
    g.DrawString( text, f, Brushes.Black, 0f, 0f, stringFormat );

    //make be background transparent - this will be an index (rather than an alpha) transparency
    image.MakeTransparent( Color.White );

    //note that this image has to be a PNG, as GDI+'s gif handling renders any transparency as black.
    context.Response.AddHeader( "ContentType", "image/png" );
    using ( MemoryStream memStream = new MemoryStream() )
    {
    	image.Save( memStream, ImageFormat.Png );
    	memStream.WriteTo( context.Response.OutputStream );
    }
}

using ( Bitmap image = new Bitmap( (int) size.Width, (int) size.Height, PixelFormat.Format32bppArgb ) )
{
    Graphics g = Graphics.FromImage( (Image) image );
    g.TranslateTransform( image.Width, image.Height );
    g.RotateTransform( 180.0F ); //note that we need the rotation as the default is down

    // draw text
    g.DrawString( text, f, Brushes.Black, 0f, 0f, stringFormat );

    //note that this image has to be a PNG, as GDI+'s gif handling renders any transparency as black.
    context.Response.AddHeader( "ContentType", "image/png" );
    using ( MemoryStream memStream = new MemoryStream() )
    {
    	//note that context.Response.OutputStream doesn't support the Save, but does support WriteTo
    	image.Save( memStream, ImageFormat.Png );
    	memStream.WriteTo( context.Response.OutputStream );
    }
}

g.TextRenderingHint = System.Drawing.Text.TextRenderingHint.ClearTypeGridFit;

Graphics g = Graphics.FromImage( (Image) image );