If you missed Method #1 of making text rotate around an object, it's here. This is basically the same procedure. I put a bit more effort into this one ;-). This method combines masking, path text and the CC Cylinder, one of the Cycore FX. The standard version of Cycore FX is included with After Effects Professional Edition. Put the text you want in front of the tree, in front and set the render settings to outside for CC Cylinder. Duplicate the layer and change the render settings to all or inside. Drag the layer behind the tree or your object.
View sample movie
Download project files (AE 7)