First, you will have to create a new movie. You will want to make it the same size as the movie that you are testing for.
Don't forget: You must change the movies frame speed to 20 frames per second. Do this by selecting (from the menu) Modify> Movie.... In the Frame rate box enter the value 20. Click OK
Then you will have to rename Layer 1, call it preloader.
Make a second layer, and rename it labels.
Make a third, and name it actions.
The next thing to do is to create a keyframe at frames 1 and 2 of preloader. Then place a Keyframe on frames 5, and 25 of labels.
Add the text "preloading..." to the movie field on frame 1 of preloading.