1. Start with a new file you can chose any color and size. Then take the Rounded Rectangle Tool (U) and draw out the size you want to have on your button.
2. Then go to the layers palette and right click, chose Blending Options and use this settings.
Then add some text to your button.
And you are done!
This is what i came up with.
Below is a another example with the same effects, I have just changed the background color and added some outer and inner glow on the text.
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