Yes it is.
In PPT 2202/2003
For slide narration go to: Slide Show > Record Narration. The resulting
narration will appear in your Custom Animation task pane at the right of your
screen
For automatic transitions go to: Slide Show > Slide Transitions. Set the
timing to automatically advance after 0 seconds. That way the slide will
advance as soon as your narration (and any other animations you might have
included) have concluded.
Please let me know if this helps.
