\documentclass[a4paper]{article}
\usepackage{psfrag,pdfrack}
\begin{document}
Some text.
\begin{figure}
\begin{psfrags}%
\psfragscanon%
%
% text strings:
\psfrag{str01}[t][t]{R134a mole fraction in liquid}%
\psfrag{str02}[B][B]{Pressure     Pa}%
\psfrag{str05}[lB][lB]{T = 300 K}%
\psfrag{str06}[l][l]{P}%
\psfrag{str07}[l][l]{P $x_{R134a}$}%
\psfrag{str08}[l][l]{P $x_{R123}$}%
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% xticklabels:
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% yticklabels:
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\begin{picture}(0,0)\put(0.5,1.5){$\times 10^{5}$}\end{picture}}%
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% Figure:
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\end{psfrags}%
\caption{Non-ideal binary zeotropic mixture of R134a and R123}
\end{figure}
\end{document}