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Step 1 - Open a New Document
Open up a new document big enough to fit your text. I used 300x100. Fill the background with a gradient of #1f4c8f to #20529f as shown here. This will be the background for your text.
Step 2 - Type your Text
Select the font type and type out the text you want to apply the effect to. I recommend the font myriad pro. I have used a white color for my first word and a very light blue for my second, though if you just have one word I suggest using all white.
Step 3 - Add Some Shadow
Right click the text layer and go to blending options. Use drop shadow with the settings shown here (click image to full view).
Step 4 - Creating a Gradient
Now comes the tricky part. Once again go into the blending options for the text layer and add these settings under 'Gradient Overlay'.
Step 5 - We Are Finished!
That's it your done, you text should look something like this:
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