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To add a title, select File > New > Title to bring up a basic but useful title editor. by default this will be transparent. Premiere also comes with several presets, which can be accessed by clicking Title > Templates with the Title Designer open. This is also a great way of adding a water mark or logo to your video - simply select Title > Logo > Insert Logo and browse to your image on your hard drive. You can then resize and move the image to postion by first selecting the black arrow tool. Save changes to the title using File > Save and the title will be added to the project window. You can then treat this as a normal video clip and place it on the timeline in a track above your video to overlay the title
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