Create a new file.
Create a new Layer.
On the new layer, create the type font you want to use.
Duplicate the layer with the type
You should now have 'Layer 1 copy' over 'Layer 1'.
Select 'Layer 1' the bottom layer
Press Shift+F5 to fill in the type, use black and preserve transparency.
Offset the layer a bit using the move tool
Select FILTER>>BLUR>>GAUSSION BLUR for this example I used 2.5
For a softer shadow select a higher number.
