Hey,
Well, if all you really need to offer is just a downloadable list, I would suggest this...
Make a script to write the sites to a text file. Basically just open the text file (fopen()); execute a query like "select * from sites" and then loop through them all; for each one, write it to the text file with a '\n\r' at the end.
Then just have a link to the text file for the visitors to click on and download.
And as far as when to execute the script...
If you are updating the database through some kind of admin, then you can add a script to the admin to rewrite the text file each time it updates the database. Or each time someone submits a site, rewrite the text file. That is what I suggest - basically each time the table itself is updated, update the text file as well.
Hope that helped!
Heather
ps: Here's some info about writing to text files: http://us3.php.net/manual/en/function.fopen.php.