Transparent Color/Selective Area

Although I know the process to create a transparent GIF image on 
Photoshop 4, I can't figure out how to do it selectively.  For example, 
I have an image with white text surrounded by a blurred border.  Since 
the textured backgound of the page is white, I've picked white as the 
transparent color when exporting to GIF format.  Now, I've also made the 
white text transparent, which I don't want.  Can someone shine a light 
on me?

Subject image is at http://www.angelfire.com/ca/zuniga/

Thanks.

-Collin


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