[link to original on tumblr]
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When I listened to Greatest Hits, Greatest Recordings recently, I lookt through the liner notes again. I thought this was a great picture, so I scanned it (I'm also using it as my header picture now). It's the Zombies with their producer Ken Jones. I like how Rod Argent is centered and everyone is looking in his direction, which makes sense because he was (and is) the leader of the Zombies.
Because Rod's playing harmonica, Paul has his twelve-string, and Ken Jones is in the studio, I'm assuming that they're rehearsing Jones' "Work 'n' Play."
The Zombie Heaven liner notes comment that at the 10 December 1964 session (when "Work 'n' Play" was recorded, among with some other songs), "a representative from the American trade magazine Cashbox arrived to present them [the Zombies] with an International Gold Award for having got to the top of their chart [with "She's Not There"]." I'm pretty sure that most (if not all) of the Decca-era pictures of the Zombies in the studio are from this 10 December session, as something of a press event for receiving this award.