Code
function makeLinks($sourceText) {
$destText = preg_replace( "/([_a-zA-Z0-9-]+)(\.[_a-zA-Z0-9-]+)*@([a-zA-Z0-9-]+)(\.[a-zA-Z0-9-]+)*(\.[a-zA-Z]{2,4})/", '<a href="mailto:\\0">\\0</a>',$sourceText);
$destText = preg_replace_callback('/\bhttp[^\s]+/',create_function('$matches', 'return "<a href=\"$matches[0]\">" . preg_replace("#(\.|/)#", "­$1", $matches[0]) . "</a>";'),$destText);
return $destText;
}