Headline Text
Smaller text which might include things like information about your company and what you do or maybe a Welcome message.
a defined block
The block above could be used to draw attention to things such as project names or dates
This could then contain details about the subject and is essentially a section of text, although if you used it for something like "Latest News" you could also have links to pages with more detail, or a page maybe containing photos..
another block
This template is ideally suited for a "calendar" based site so the blocks have dates and the sections contain news. The "Service" sections below can be removed easily
NB/ You can have just one section of text if you don't need any more!