Create 2 Vector (.eps) files from jpg

I have 2 jpg source files (attached below: Large [login to view URL] and Small [login to view URL]) that I need traced into vectors. I am going to use these to make rubber stamps, so I need to isolate the light blue sections from the dark blue background. The light blue section will be the positive image of the stamp. You'll note that the "small stamp" appears at the center of the "large stamp". Can be done in illustrator or photoshop, just as long as they can be exported to eps. I would also like to keep your original (PSD or AI) file for future reference. I've also attached a 3rd file that might be helpful as it shows the small stamp in much clearer detail.