1. Begin with a new file, 400×300 and with #596275 as your background color. Then create a new layer, now take the Rectangular Marquee Tool and draw out a rectangle like the image below and fill the rectangle with #D9D9D9. ( Click for larger view )

2. Create a new layer, then go to Select>Modify>Contract and set the Contract By 2 pixels. Now set the foreground color to black and then go to Edit>Stroke and set the width to 1 px and Location Center. Then go back to layer 1 and right click on it, choose Blending Options and then apply this settings.

And now should it look something like this. ( Click for larger view )

3. Now create a new layer, then move that layer below layer 1, like this.

4. Then take the Rectangular Marquee Tool and draw out a rectangle like the image below and fill the rectangle with #D9D9D9. ( Click for larger view )

5. Now right click on layer 3, choose Blending Options and apply this settings.

The only thing left now is to add some text and your done! This is what I came up with.