The easiest way I have found to do this is to:
Create the text box field (assuming you want it displayed on the form, put it near the drop down list)
If you want to display a mesage in the text box: Create a rule on the drop down list so that if the value = new, set field value (the field you created above) to your message. For neatness, you should then set a rule on the drop down list that either if the value <> new or the value = old, then set the value of the text box to ""
If you want to make the field available, then open the field, and create a conditional formatting rule, if <<drop down list>>=old, hide the field. I have found though you are better off doing if <<drop down list>> <> new hide field, as this will only show the field if it is not new (select or old).