OK, this is an easy tut, did not even take me much to make.
The final result, if u would follow it in details, will look like this:
So lets get started...
First of all, download the "Defused" font from
www.Dafont.com ( go here
http://www.dafont.com/search.php?q=defused ) and install it in your computer.
Now, create a new layer 400*320, fill it with a dark blue colour (we used #03244f here).
Select the typing tool, choose the 'Defused' font and white color for typing, then type the word you want.
Go to Layer >> Layer Styles >> Blending options and apply the following settings:
For the inner and outer shadow, select a dark blue colour, any of ur choice.
this is what these setting should have given you:
Now go to Layer >> Flatten Image, to merge both of your layers.
Then click on Filter >> Render >> Lightening effect and apply the following settings (approximately these, or if u want the lightening effect to be different)
that is it, here is your result, enjoy!