(Click on image to view large version)
Out of Frame result after adding Mat and Frame to original image.
Download Quicktime Video (.mov)
Steps used in Video:
Open Image
Select All-Copy (for pasting later)
Set guidelines for mat opening
Use marquee tool to make selection
Image-Crop
Edit-Fill with Black
Increase Canvas Size
Clear Guides
Use magic wand to make selection of the mat
Layer-New Layer Via Cut
Change background layer to a working layer
Select All-Delete
Adjust Opacity of top layer to around 65%
Paste image into transparent bottom layer
Position image under mat
Select top mat layer-add layer mask
Select layer mask-Paint black in layer mask to show part of image that is to appear outside the mat opening
Set layer opacity back to 100%
Clean up mask selection using white or black in layer mask
(Note how I used the magic wand on the image to help clean up the mask)
Optional steps to add a second top mat and text:
Duplicate Layer
Make a selection of the mat opening with magic wand
Expand selection for top mat
Set guides-Marquee Selection-Delete
Fill top mat with Black (bottom mat remains white for a look of a bottom mat or white inside border)
Clear Guides
Add Text above top layer
At this point you are done. Save the image.
Optionally, run my frame action to add a frame.
Download Frame Action from here: