THANKS -- that's perfect. Some questions though:
1) (this one's probably dumb) -- what's 'EOD'; I got a Parse error: syntax error, unexpected T_SL on your exact code, but it worked when I made $text into a regular string (and escaped inside quotes)
2) Is there a way around the '2' in $matches[2]? The # of URL's will vary each time. I suppose I could use substr_count to get the no. and then plug it in if there's no easier way.
3) Can you come up with a reg ex based on 'http' and 'www' rather than 'href'? -- not all www's are in <a> tags, but all <a> tags have http or www (at least all full URL's, which is what I want)