File->New-> Adjust the widith and height at 500x500 pixels :

Step 2: Select the gradient tool and fill the page.

Step 3: Type a text (Font: Arial; Size:72)

Step 4: click the FOXY layer then press crtl + c and -> ctrl +v. Now you have a new
layer (layer3).

Now i will create a shadow. So go to filter->motion blur and adjust the settings like in picture bellow(angle:-50; distance:31 pixels):

Step 5: Drag with the mouse the layer 3 down to Layer FOXY

..and the picture should look like this:

Step 6: Right click on Layer FOXY ->Blending options ->Gradient Overlay:

...Select Angle: -24

And the picture should look like this:

Step 7: click the "FOXY" layer then press crtl + c -> ctrl +v. Now, you have a new layer. Ctrl+click the layer created( will select the text). now press space+down arrow and right arrow . after that press delete and the picture should be like this:

Step 8: Create a new layer (ctrl+shift+n) and select the square brushes.
Select the color white and the size of brush from 39 px.(first ray) ->7 px.7->114->120(last ray) and draw 4 lines :

Step 9 : go to filter-> blur->gaussian blur adjust radius to 8.6 pixels.
Step 10 : now click on rectangular marquee tool and right click on the image ->free transform and resize and rotate the image. Then adjust the perspective to look like this :

Step 11: Now set the layer to Overlay and 20% opacity of the layer with the rays.

Step 12: Select the background layer, then select elliptical marquee tool and make a selection like in the next picture. Press ctrl+c->ctrl+v and drag the new created layer to the top of the layers.

Step 13: Press ctrl + click on the last layer created, select the gradient tool and fill the selected area. Select luminosity and opacity 16 %.




FINAL IMAGE:

ENJOY IT :)