// to render text with baseline at coordinates (pt.X, pt.Y) :
Font myFont = Label1.Font;
FontFamily ff = myFont.FontFamily;
float lineSpace = ff.GetLineSpacing(myFont.Style);
float ascent = ff.GetCellAscent(myFont.Style);
float baseline = myFont.GetHeight(ev.Graphics) * ascent / lineSpace;
PointF renderPt = new PointF(pt.X, pt.Y - baseline));
ev.Graphics.DrawString("Render this string", myFont, textBrush, renderPt);
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