He added words. More than seven.
The image itself is still identical to the copyrighted image. It’s the image he needed to modify, not the caption/text.
Here’s a partial exposition of law:
Question: Artist’s Copyright FAQ: May I Make a Painting of a Photograph?
“I’ve found a lovely photo on the Internet and want to make a painting of it. Can I do this?” — A.G.
Answer:
A painting made from a photograph is known as a derivative work. But that doesn’t mean you can simply make a painting from any photo you find — you need to check the copyright situation of the photo. Don’t assume because the likes of Warhol used contemporary photos that it means it’s okay if you do.
The creator of the photograph, i.e. the photographer, usually holds the copyright to the photo and, unless they’ve expressly given permission for its use, making a painting based on a photo would infringe the photographer’s copyright. In terms of US copyright law: “Only the owner of copyright in a work has the right to prepare, or to authorize someone else to create, a new version of that work.”1 You may be able to obtain permission to use a photo for a derivative work from the photographer, or if you’re using a photo library buy the right to use it.
http://painting.about.com/cs/artistscopyright/f/copyrightfaq5.htm