Preserve HTML formatting when apply-templates in varia

Hi there,
I am trying to get the result of a template match as preserved HTML in my
variable.  I'm not to sure what is happening to the HTML, but I think it is
just getting stripped.
The variable which should retrieve the HTML from the matched template is
"ui_review".  The template "review" is responsible for generating the HTML.

Here is what I have:

<xsl:template match="uireview">
   <xsl:variable name="ui_review">
    	<xsl:apply-templates select="review"/>
   </xsl:variable>

   <xsl:call-template name="ui_content">
     <xsl:with-param name="title">UI Review</xsl:with-param>
     <xsl:with-param name="content" select="$ui_review"/>
     <xsl:with-param name="height">300</xsl:with-param>
   </xsl:call-template>

</xsl:template>

<xsl:template match="review">
	<img src="/images/arrow_2.jpg" alt="{title}" class="padr"/>
	<h3 class="txt_1 inline bold"><xsl:value-of select="title"/></h3>
	<p class="txt_1"><xsl:value-of select="content"/></p>

    <!-- link for more content -->
    <div class="marginb">
    <a href="{link}">more <img src="images/arrow_2.jpg" alt="{title}"
width="13" height="7" border="0"/></a>
    </div>
    <!-- horizontal "dashed" div tag -->
    <xsl:if test="not(position()=last())">
    	<div class="hr_1px_dashed" />
    </xsl:if>

</xsl:template>


========= end example ==========

Thanks for the help!
Karl