Start by creating circular frame shape using custom shape tool.
Using direct selection tool select inner nodes as shown and press Ctrl+T.
Scale down the points to create a small hole. These outer and inner circle size should be in synch with actual CD dimensions.
Fill it with gray color.
Duplicate the layer. Again select the outer nodes and scale down a bit and select inner nodes and scale up a bit both using direct selection tool.
Double click the layer to open layer style window. Apply settings as shown.
Create a big circle using elliptical shape tool. Press Ctrl+Alt+G to create a clipping mask.
Similarly create two more circles with different colors and different placement. Press Ctrl+Alt+G to create a clipping mask for each layer.
Create a sun shape using custom shape tool.
Press Ctrl+Alt+G to create a clipping mask.
Change the layer mode to luminosity.
Similarly create more shapes according to the topic of your CD ROM. We're creating a CD ROM for Horoscope software so we are placing suns and planets etc. You can also insert images too. Create clipping mask for all shapes.
Create a circle almost half the size of outer circle. Using type tool click on this path to type your text on it.
Apply some outer glow layer style.
Similarly create a path for the website url and place near the bottom.
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