I am running Windows XPPro SP2 current with all updates and 4.5.3.1. . I have just cleared the problem, I went to the watermark dialog box, did a rightclick select all, then delete. I typed in the watremark with the copyright symbol, and it displayed in a single line normally. There must have been a non-visable command in the watermark box that did not clear when I deleted the characters with the delete key. When I retyped the watermark, it appeared normally in a single line in the box, yet the watermark was always two lines, centered horizontally, and adjusted the characters on each line to make the lines equal number of characters. I must have discovered a new feature!!