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$text = substr($text,0,200);
echo $text.'...';

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//Die Funktion an sich
function word_substr($text, $zeichen, $kolanz=3, $punkte=0) {
    $wort = explode(" ",$text);
    $newstr = "";
    $i = 0;
    while(strlen($newstr)<=$zeichen &&
          strlen($newstr.$wort[$i])<=($zeichen+$kolanz)) {
        $newstr .= $wort[$i]." ";
        $i++;
    }
    $newstr .= str_repeat(".",$punkte);
    return $newstr;
}

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//Der Aufruf im Script
<?php
  $sql = "SELECT title FROM news ORDER BY 'time' DESC";
  mysql_select_db($db['database'], $db['connect']);
  $r_news = mysql_query($sql, $db['connect']);
  if( @mysql_num_rows($r_news) > 0 )
    {
      $result = array();
      for($i = 0; $i < mysql_num_rows($r_news); $i++)
        {
          $result[$i] = mysql_fetch_array($r_news);
        }
      for($i = 0; $i < 5; $i++)
        {
          $title_prev = word_substr($result[$i]['title'], 30, 5, 3); 
          echo "<tr><td width=\"100%\">".$title_prev."</td></tr>";
        }
      }
?>