that's true.
an improved version:
<?php
$var = "the price is £50.95 for that";
$pattern = array ("/£/","/£(\d+.?\d)/e");
$replacement = array ("\$£","\11.33");
echo preg_replace($pattern,
$replacement,
$var);
?>
btw: in this case I wouldn't use regex
are slowly than split + x*y...
PM