1. Open Photoshop 7.0. Create new file with 72 PPI and white background. Type the text and fill it with 35% gray from the Swatches.
2. Filter
> Noise > Add Noise
Rasterize the text when asked for.
(Amount 16 - Gaussian - Monochromatic )
3. Layer > Layer Style >
Bevel & Emboss
( Chisel Hard - depth 400 size 7 )
Select Drop Shadow and Texture under Bevel & Emboss styles
4. Decorate the effect
by adding dark background.
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