One of the more popular Express Tools (which I'm sure you're aware are not in AutoCAD LT -- it's part of the reason for the price difference) is Arc Text. This handy tool enables you to align a text object around the curve of an arc.
Why am I telling you about a tool you don't have? Because in this case, there's a way to duplicate the effect. You can use the divide or measure tools to essentially create the same thing. A little more work? Sure. But it can be done, and here's how.
Start with a center-justified text object consisting of at least one letter. (It doesn't really matter how many letters you use, but using 1 will make it easier to see your final effect.)
Next, use the Divide command, using the Block option before you enter the number of segments. Be sure to align the block with the object. You'll also want to enter one more segment than number of letters. (Don't forget to count spaces.)
Depending on the orientation of your arc, you may have to rotate some of the block instances 180 degrees. You can either do it one at a time (or make a macro for it), or redefine the block with the text rotated 180 degrees.
It's not quite identical, but it's pretty close!
(You know, I got all the way through this and realized you can do the same thing with the array command...but hey, maybe sometimes it's easier to draw the arc rather than calculate the center point of rotation and all the angles? It's AutoCAD LT...there's always more than one option.)