You have to use the Graphics object to draw string in a picture box. You need to adjust the co-ordinates to suit your needs in following code:
private void pictureBox1_Paint(object sender, PaintEventArgs e)
{
DrawStringRectangleF(e);
}
//
//Sample code taken from MSDN help on Graphics.DrawString method
//
public void DrawStringRectangleF(PaintEventArgs e)
{
// Create string to draw.
String drawString = "Sample Text";
// Create font and brush.
Font drawFont = new Font("Arial", 16);
SolidBrush drawBrush = new SolidBrush(Color.Black);
// Create rectangle for drawing.
float x = 150.0F;
float y = 150.0F;
float width = 200.0F;
float height = 50.0F;
RectangleF drawRect = new RectangleF( x, y, width, height);
// Draw rectangle to screen.
Pen blackPen = new Pen(Color.Black);
e.Graphics.DrawRectangle(blackPen, x, y, width, height);
// Draw string to screen.
e.Graphics.DrawString(drawString, drawFont, drawBrush, drawRect);
}