Currently Being ModeratedJul 2, 2013 5:30 AM (in response to Jack Tanner)
Yes, most of the existing templates do that already.
If you want to set it up yourself:
Menu > Insert > Merge Field
The source data can come from a Numbers table or better from Contacts/Address Book.
Look up Personalizing Documents with Address Book and Numbers Data page 246 in the Pages09_UserGuide.pdf downloadable from under the Help menu.