The only tricky part is using 1st, 2nd, etc.
I have posted before with a series of IFs to handle this but I can't find the post now.
Anyway, try a formula containing:
weekdayname(dayofweek(cdate(2001,1,23)))
To get the day of the week, drop it into a text object, then drop the date in alongside and format the date to display as 1st May 2005
Or use:
weekdayname(dayofweek(currentdate))&" "&totext(day(currentdate),0,"")&" "&monthname(month(currentdate))&" "&totext(year(currentdate),0,"")
Replace currentdate with your date.
Again, to get the 1st, 2nd, etc., I think that you'll need to create a formula such as:
stringvar Addendum;
if day(currentdate) = 1 then
Addendum:="st"
else
if day(currentdate) = 2 then
Addendum:="nd"
etc...
Then reference the addendum after the day portion in the formula above.
-k