basically you dont ;)
never use regex if str_replace will do the same job... str_replace now accepts arrays as arguments...
run this to discover the truth
<?
$str="did I not tell you that ASP rocks the house and all your pages are belong to ASP";
$in=array('','','ASP');
$out=array('<b>','</b>','PHP');
$str=str_replace($in,$out,$str);
echo $str;
?>