function parse_urls($text, $maxurl_len = 35, $target = '_self', $only_short_down = false)
{
    if (!$only_short_down)
    {
        return preg_replace('/((ht|f)tps?:\/\/[^\s\r\n\t<>"\'\!\(\)]+)/ie', "'<a href=\"$1\" title=\"$1\" target=\"$target\">'. parse_urls(\"$1\", $maxurl_len, $target, true) .'</a>'", $text);
    }
   
    if ($maxurl_len AND strlen($text) > $maxurl_len)
    {
        $offset1 = ceil(0.65 * $maxurl_len) - 2;
        $offset2 = ceil(0.30 * $maxurl_len) - 1;

        $text = substr($text, 0, $offset1) . '...' . substr($text, -$offset2);
    }

    return $text;
} 

 

'/(?<!href=["\'])((ht|f)tps?:\/\/[^\s\r\n\t<>"\'\!\(\)]+)/ie'