\documentclass{article}
\usepackage{eso-pic}
\usepackage{graphicx}
\usepackage{color}
\usepackage{type1cm}
\makeatletter
  \AddToShipoutPicture{%
    \setlength{\@tempdimb}{.5\paperwidth}%
    \setlength{\@tempdimc}{.5\paperheight}%
    \setlength{\unitlength}{1pt}%
    \put(\strip@pt\@tempdimb,\strip@pt\@tempdimc){%
      \makebox(0,0){\rotatebox{45}{\textcolor[gray]{0.75}{\fontsize{5cm}{5cm}\selectfont{Draft}}}}
    }
}
\makeatother
\begin{document}
Text
\end{document}