In fact I managed to amend code accordingly
HTML Code:
Sub Textboxnew()
Dim myTextBox As Shape
With ActivePresentation.Slides(1)
Set myTextBox = .Shapes.AddTextbox _
(Orientation:=msoTextOrientationHorizontal, Left:=450, Top:=20, _
Width:=100, Height:=100)
myTextBox.TextFrame.TextRange.Text = "NEW"
myTextBox.TextFrame.TextRange.Font.Color.RGB = vbRed
myTextBox.TextFrame.TextRange.Font.Size = 20
End With
End Sub