UV unwraping a cylinder

Hello to everyone.

I am trying to unwrap and texture a cylinder.
I have marked all my seams, and unwrapped the way i wanted to.

I have created a new material for the cylinder (luxrender material).
I am using a texture i created in fireworks that has an alpha map.

I am trying to unwrap it as such:

Then i create a glossy material for the cylinder, add the texture and i get this in the viewport (and render view):

This is a weird result. The bottom part of the texture seems to be ok (transparent), but the part where there’s text appears completely black.

Any thoughts on what i’m doing wrong?

I’m sorry, i forgot to check premultiply in the UV window.

Nope. I just can’t get that transparent texture over the glossy material no matter what i do.
Plz help!

What i did was this:

I used a texture that doesn’t have an alpha map. Then i used a mix material, mixing a glossy material, with another material with the texture applied, along with an alpha map set to that same texture.

Hope this helps someone.