Here's the answer Jay Freedman posted to a similar question in this same
newsgroup:
The first thing is to forget about the "watermark" designation. When
Word inserts what it calls a watermark, it anchors the graphic in the
header so it repeats on every page of the section, and you definitely
don't want that.
Under the hood, though, a watermark is really just a picture (or
WordArt) that has been sent behind the text and made light enough for
the text to show up. You can do that yourself by inserting a picture
-- but do it when the cursor is in the text of the last page, not in
the header, so it'll appear only on that one page. Then use the
picture tools to increase the brightness, decrease the contrast, and
set the text wrapping to Behind Text.
I would add to what Jay said that, if your background is a picture, you can
use the Color tool on the Picture toolbar to set the color to Washout
(previously called Watermark), which will automatically adjust the
brightness and contrast as needed. If it is WordArt or an AutoShape, you'll
find that there are no settings for brightness or contrast; instead, you'll
have to adjust the transparency.
--
Suzanne S. Barnhill
Microsoft MVP (Word)
Words into Type
Fairhope, Alabama USA
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