$re = '/<ul>(<li>((.|\n)*?)<\/li>)<\/ul>/i';
$str = '<div><ul><li>SOME TEXT INSIDE<br></li></ul></div>';
$subst = "<span class=\"text_right\">$2</span>";
$result = preg_replace($re, $subst, $str);
echo "The result of the substitution is ".$result;
Please keep in mind that these code samples are automatically generated and are not guaranteed to work. If you find any syntax errors, feel free to submit a bug report. For a full regex reference for PHP, please visit: http://php.net/manual/en/ref.pcre.php