Here's one way of approaching it: Drop the clip onto the timeline. Use the razor tool to make a cut at the in and out points. Select the section you've just created and click delete.
As a newbie to Adobe premiere CS5.5 I am struggling a bit to edit a video.
I have the video in Adobe Premiere and have set the display to frames then set the marker in and marker out points and what I wish to do is to permanantly delete the frames between these marker points. Can anyone please advise me how to do this?