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Place greenscreen footage on higher track, desired Background on lower track.
I tried that by using a color matte but for some reason the color matte just replaces my video it doesn't appear behind the footage, even though i set it to a lower track? Anything i could be missing?
So you have the color matte on V1 and the keyed ou subject on V2? Is the effect enabled? Is Output set to Composite? Is your playhead parked where the clips are overlapping? If you still have trouble, here's some reference material for you:
Check out this page in Help: http://help.adobe.com/en_US/premierepro/cs/using/WS53d845b1b545acea-67d150e91260febee7a-80 00.html
Check out this video tutorial:http://www.video2brain.com/en/videos-1553.htm
If you still have trouble, consider trashing your preferences: http://blogs.adobe.com/genesisproject/2011/02/premiere-pro-cs5-maintenance-two-great-tips. html