newbie string.replace question

[fett at tradersdata.com]

Could someone please tell me why the following segment of code wont
work:

unformat = quote[11]
string.replace(unformat, '<B>', '')   
string.replace(unformat, '</DL>', '')  
string.replace(unformat, '</B>', '')
string.replace(unformat, '<DL COMPACT>', '')
string.replace(unformat, '<DT>', '')
string.replace(unformat, '<DD>', '')
string.replace(unformat, '<OL>', '')
string.replace(unformat, '</OL>', '')

when i print the html stuff i was replacing is still there.

				Thanks in advance,
				Dan












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