Hi, you probably mean 2.35:1 (or 1:2.35)
Premiere Elements you can edit and export in cinemascope but not whithout some adjustments.
But its better to edit in a 1920x1080 timeline than in a 1920x816 timeline otherwise you will have no room to adjust the vertical composition in the frame. Which is often needed.
But faking it is just as easy.
In a 1920x1080 timeline by putting an letterbox image over your footage like this.
I attached the png for you to use.
Although, as Ann points out, that's only a simulation. Your video project is still going to be 16:9. You'll just have a letterboxed, wider video floating in the frame.
Premiere Elements only creates videos in 4:3 and 16:9 aspect ratios.
As far as I know Vimeo is the only one that will show 'real' cinemascope.
Computer/tv/youtube will have black bars.
Thanks its really help full