Oh, dude, it's like making a weak cocktail. For every 1 part of 96% ethanol, you add about 1.29 parts of water to get it down to 70%. So, if you have like 100 ml of 96% ethanol, you mix in around 29 ml of water. Just don't mix it up with your actual drink, unless you want a real party in your stomach!
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There's a dilutionfactor of 70/96=0.729, when you make 1 liter, you have to use 729 milliliters of ethanol, then you to add water till 1 liter total.