\begin{picture}(0,0)%
\includegraphics{example.pstex}%
\end{picture}%
\setlength{\unitlength}{3947sp}%
%
\begingroup\makeatletter\ifx\SetFigFont\undefined%
\gdef\SetFigFont#1#2#3#4#5{%
  \reset@font\fontsize{#1}{#2pt}%
  \fontfamily{#3}\fontseries{#4}\fontshape{#5}%
  \selectfont}%
\fi\endgroup%
\begin{picture}(4299,1074)(1189,-2098)
\put(2926,-1336){\makebox(0,0)[lb]{\smash{\SetFigFont{12}{14.4}{\rmdefault}{\mddefault}{\updefault}{\color[rgb]{0,0,0}$\alpha + \beta^2$}%
}}}
\end{picture}