Regular Expression Problem and PHP 4 (urgent)

Here is the problem: I'm retrieving a page of data from another process using PHP4 on Solaris 2.51 This data is placed in an array by line and simply returned to the browser after formatting. A sample line may look something like this: blah blah blah blah blah <Link> blah blah blah blah <Link> I think I need to use eregi_replace to make the line look like this: blah blah blah blah blah <a href='#'><Link></a> blah blah blah blah <a href='#'><Link></a> when it is returned to the browser. Thanks in advance Ross