1.Open a new blank canvas in PSP.
2.Type out your text in any color.
3. Merge layers visable
4. Crop your image
5. Go to FILE -->EXPORT --> PICTURE TUBE
6. box will open up and enter a step of 100 or less if the text is fairly large to begin with and name your tube
Hit ok.
TO CHECK YOUR WATERMARK:
1. open a new blank canvas and floodfill it with any color.
2. go to your picture tube tool and click on it.
3. go to your drop down list at the top and find your watermark that you just created and click on it.
4. put the scale as 100, step as 25 and random in the next 2 boxes.
5. Go down to your new flood filled image and add a new raster layer.
6. click your cursor on the flood filled image and this should put your watermark there.
7. If you want a more faded out watermark, go to your layers palette and slide the cursor over...:)
your done!