How do you do Luminated billboards?

[Statyk]

You're talking about DECALS... BILLBOARDS are light effects such as light beams through a window, or a halo around a torch. Decals can be made in the material editor.

Here's a link for a tutorial.
http://www.frictionalgames.com/forum/thread-10378.html

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Also, if you want it ILLUMINATED, I believe you have to set the image in the "illum" section of the material editor. Illuminated images show up no matter HOW dark the game is.