Help me use re better

[P Browning]

I've read AMK's RE HowTo but I think I'm missing something
obvious when it comes to substitutions. Any offers for
a more elegant solution to the program below gratefully
received. 

TIA Paul

------------------------
import string,re

directors = ['Prof A B Looney','Dr C D E Ftang','Ms H I J K Biscuit Barrel']
# I want no spaces between the initials
# Prof AB Looney
# Dr CDE Ftang
# Ms HIJK Biscuit Barrel

match_initials = re.compile(r'([A-Z] )+')

print
for director in directors:
    s = match_initials.search(director)
    inits = s.group(0)
    new_inits = string.replace(inits,' ','')
    new_director = string.replace(director,inits,new_inits + ' ')
    print director,new_director

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    E-mail: Paul.Browning at bristol.ac.uk  URL: http://www.bris.ac.uk/