Insert the graphic into the document. Draw a text box over the graphic
(Insert > Text Box). Type the text in the text box. format the font, colour,
size and alignment as required. Right click the text box and select Text Box
Properties. Set the fill to 'No Fill' and the Line colour to 'No Line'. In
Word 2007 it is essentially the same, though the dialog boxes are slightly
different).
>> Stay informed about: Inserting clipart into a MS Word booklet