Just for visibility on the sheet or do you want to also print the watermark?
You can use WordArt from Insert>Picture.
See Bob Phillips' site for this and other printable watermark methods.
http://www.xldynamic.com/source/xld.xlFAQ0005.html
Gord Dibben MS Excel MVP
On Thu, 19 Jul 2007 17:38:03 -0700, C-bah-hobbit
<C-bah-(E-Mail Removed)> wrote:
>MS Word contains an ability to insert a text watermark (Format, Background,
>Printed Watermark). Using this feature enables one to indicate (say) the
>status of the document, eg, "draft".
>
>I want to do the same thing in Excel, but seem to be able to only insert a
>background graphic (Format, Sheet, Background) from my graphics folder. I
>would prefer not to create a text graphic if I can.
>
>Any suggestions?