You'd have to use JavaScript for that.
give the line of text id'd span tags, ie:
<span id="text1">1st Line of text</span>
then, for the link, give it an onMouseOver property that changes the css properties of the above line:
<a href="linkgoeshere.php" class="classgoeshere" onMouseOver="JavaScript: document.GetElementById('text1').style.color='NEWCOLOUR'" onMouseOut="JavaScript: document.GetElementById('text1').style.color='ORIGINALCOLOUR'">My link</a>
(java script should read JavaScript)
Is this what you mean?