The Press It bookmarklet is found at the bottom of the Write Posts panel. Drag and drop it onto your
Favorites, Bookmarks, or Links list or toolbar.
To activate, simply click on the “Press It" bookmarklet link. A window will open with the URI of the current site displayed, and the site’s title as your post title.
$SiteName is the name of the installation, $SiteURL is the installation directory.
Give it a try. It’s really easy, and makes blogging and adding information to your WordPress site fast and easy.