Directions on adding text to Gif graphics with an alpha channel.
Paint Shop pro 6.0 or later

1) Open up the blank graphic you want to add text to.
Go to colors-increase color depth-to 16 million.

2) Add your text with anti-alias checked and floating selection checked.
The stroke color should be none and the fill should be the color of your text as seen below.

3) Position your text on the graphic where you want it to be with the mover tool.
Go to select-none as seen below.
The floating selection will disappear.
Note: If you want to add a drop shadow to your text do it BEFORE you go to selections-select none.

4) With the eyedropper tool click on the gray area that surrounds the graphic.
Make this your background color NOT the foreground color on the swatches.

5) Go to file-export-transparent gif or gif otimizer. Click on the use wizard box in the lower left hand corner.

Click on convert matching colors to transparent.
Make sure the color in the box is that gray color you chose before with the eye dropper.

6) Press next. On page 2 the color of your background web page in the box should be
the same html hex code found in the coded page you downloaded.
With the eyedropper tool click on the square to add the necessary color.
(Example: bgcolor= #990000) Click next.

On page 3 check button that says choose best colors click next.
On page 4 (seen below) set the slider in the middle or above then press next.

Note: Preferably the slider should be all the way at the top, if the image
quality doesn't look good with the slider set in the middle, on page 5 press
the back button and set the slider at the top.

This is the last step. Make sure you see the checkerboard in the background.
This is the area that is transparent. Press finish, name your file and you are done.