Return to the Watermark dialog box and turn off the Semitransparent option.
Some printers don't understand this and it results in missing letters as
you've described.
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"OB" <OB@discussions.microsoft.com> wrote in message
news:3C7B244C-9DB9-4F66-8BDD-41E0BEA7CFD2@microsoft.com...
> Trying to watermark documents in WORD. Looks ok on document and in print
> preview but when I print them off letters missing from watermark