Adding Text or Graphics to Media Live Encoder3

I am wondering if there is any way of adding text or graphics to a live broadcast with Media Live Encoder 3..

I will give you the back ground.

I am looking for a way that we can push live video and audio out and then have some Text and graphics change as differnet camera shoots are taken.

IE... we are hosting and auction, I want to be able to change the lot number for each lot on the video screen, and possibly put a little disscription on the video screen as it goes up.

If no one know how to make Media Live work.. do you have any ideas on how to make this work.

Thanks In Advance

Mark