You need to use a non alphanumeric delimiter at the begining and end of the regular expression. In perl usualy / is used.
also assign the return value of preg_replace to a variable
$NewsArticle ="Hello, we are flying from Brook Farm near Tamworth today";
$test = preg_replace ("/Brook Farm near Tamworth/", "<a href=\"http://www.multimap.com/map/browse.cgi?client=europe&X=417000&Y=300000&scale=25000&width=700&height=400&gride=&gridn=&coordsys=gb&db=&overviewmap=&scale=25000&right.x=7&right.y=17\" target=\"_blank\"><strong>Brook Farm near Tamworth</strong></a>", $NewsArticle);
echo $test;