I will attempt to explain the tools used in PSP 7.04:
1.. Open  an new image 500X400 pixels, I used a transparent background as I find the grid useful for drawing the vector image. I used the point to point vector drawing tool ( fig. 2) to create the shape.  But before we draw the shape choose your gradient, and stroke colours, I used the Red/Green gradient which I edited so there was only a little green left (fig. 1), and bright red for the stroke.
Once I had the general shape drawn I edited the nodes to create the curves.

(This is the most difficult part of the the whole Tutorial)

Fig. 1.

  Fig. 2. 

Fig. 3.

Step 3. The watermark was easy I used the Windings font "jk" set as a vector, white stroke and fill, on their on own layer, pulled and stretched them until I got the desired effect. To fade them it is just a matter of layer transparency, (you can also play with the layer composting if you wish) .

Step 4 needs no explanation..

Step 5.  The buttons you have a choice of using the buttons available in the vector shapes or making your own.  I made mine using the rounded rectangle selection tool, filled  it with the blue gradient.  Used the buttonize effect. copied and paste for repeated buttons.  There are other tools available in PSP that could be interesting to add here like mouse over but since I've not used it before I stick with the simply button.

Note: if you have worked each step on its own layer, You can now finish up by slipping the picture into the background layer..
 
 

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