> That's not how entities work - whoever designed this XML has got it
> very wrong...

what's wrong with it!!! It's _exactly_ how NDATA entities work.

As far as i can see the XSLT

<img src="{unparsed-entity-uri(@ID}}"/>

would do the right thing here. Although of course
".\Equations\008x0001.jpg" should be "./Equations/008x0001.jpg" as in
both xml and html the relevant string should be a uri not a windows file
path.

David