Need help with clickable hyperlinks

Currently I’m using the following code, which allows a url to be clickable:

<?=
makeClickableLinks(str_replace(chr(13),"<br>",strip_tags($rshome["article_summary"],"<b><strong><i>
<em><u><br><pre><blockquote><a><xmp><ol><ul><li>")));?>            

However, if I try to add hyperlinks, such as display text it will NOT display the clickable link.

How do I modify the php/html to allow hyperlinks?

Any help would be much appreciated! Thank you.
Admin Edit: Added CODE tags for readability

Probably need to see the code for the function makeClickableLinks()

Here is the section from the func.php:

function makeClickableLinks($text) { 
	$text = eregi_replace('(((f|ht){1}tp://)[[email protected]:%_+.~#?&//=]+)','<a href="\1" target=_blank>\1</a>', $text); 
	$text = eregi_replace('([[:space:]()[{}])(www.[[email protected]:%_+.~#?&//=]+)','\1<a href="http://\2" target=_blank>\2</a>', $text); 
	$text = eregi_replace('([_.0-9a-z-][email protected]([0-9a-z][0-9a-z-]+.)+[a-z]{2,3})', '<a href="mailto:\1">\1</a>', $text); 
	return $text;
}

Thanks for offering to help!

ADMIN EDIT: Added phpBB CODE tags for readability.

I found a solution from someone at ScriptLance.com

Thanks to all who offered to help!

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