Well, primary is question directed to SQL 2005. I'll be more specific:

--===== If the test table already exists, drop it

IF OBJECT_ID('TempDB..#mytable','U') IS NOT NULL

DROP TABLE #mytable

IF OBJECT_ID('TempDB..#replacements','U') IS NOT NULL

DROP TABLE #replacements

--===== Create the test table with

CREATE TABLE #mytable

(

ID INT IDENTITY(1,1) PRIMARY KEY CLUSTERED,

LongString nvarchar(max)

)

--===== Create table with replacements

CREATE TABLE #replacements

(

code nvarchar(55)

,replacement nvarchar(255)

)

--===== Add sample data

INSERT INTO #mytable (LongString)

select 'code01 something else code02' union all

select 'code02 code02 aacode01'

INSERT INTO #replacements

select 'code01', 'XXXX' union all

select 'code02', 'YYYY'

Well, my intention is to write query for select data from #myTable using replacements from #replacements table, i.e. desired output is

Hope it's clear, thx in advance for any suggestion.

Note: I really want to avoid using cursor, while loops, etc. And I really won't use replace(replace(replace(replace(.... query, imagine that #replacements table got 100 records, which could be changed time to time.