Make GIF's out of each of the letters, (Use ATM for ps fonts, and just "text tool" them in PSP or Gimp.) And then a program like "fly" can combine them. Matt Wright's counter uses this technique.

Also, if you really know PS, create an eps of the banner and convert. (eps2gif) This is what we use here for outputting our publishing banner. (same idea.)

Hope it helps. ~Hammy