<select name="selectName">
<option value="0">England > Avon</option>
<option value="1">Avon > England</option>
</select>
On the server, when you go through and check the option box;
$optionValues[0] = "England > Avon";
$optionValues[1] = "Avon > England";
$selected = $optionValues[$_REQUEST["selectName"]];
Something like that should work. (is that what you're even after?)
Edit: Just understood what you're after: As said above, if you just remove the value="" attribute, then the stuff in the tag will be sent as the value.