I think the best way is to rewrite the Mage_Sales_Model_Order::sendNewOrderEmail()
What you need to change is the list of variables assigned to the template. So turn this :
$mailer->setTemplateParams(array(
'order' => $this,
'billing' => $this->getBillingAddress(),
'payment_html' => $paymentBlockHtml
)
);
Into this:
$customText = '';
if ($this->getBaseGrandTotal() > 300) {
$customText = "Your 300E text here";
}
$mailer->setTemplateParams(array(
'order' => $this,
'billing' => $this->getBillingAddress(),
'payment_html' => $paymentBlockHtml,
'custom_text' => $customText
)
);
After doing this you can add in your e-mail template just this line in the place you want the text to appear
{{var custom_text}}