Open a new file with 450x470px and 300 dpi. Using the next instrument , insert the background also (the colors’ codes are indicated).

Take the next tool to mark out the same places like in the picture below. Apply the same sizes. After that choose the next tool , holding on the Alt button and create several openings, like in the next image.

Blending Options-Drop Shadow

Blending Options-Bevel and Emboss

Blending Options-Gradient Overlay

Gradient’s parameters.

Take the following instrument to insert a circle that must have the sizes form the lower image. Then choose the same tool and keeping pressed the Alt button, picture an opening also, like it is demonstrated next step.

Blending Options-Drop Shadow

Blending Options-Bevel and Emboss

Blending Options-Gradient Overlay