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$result = '<table width="100%" border="0" cellpadding="0" cellspacing="3">';

for ($counter=0,$i=0; $i<1; $i++){
    $result .= '<tr>';

    for($j=0; $j<1; $j++,$counter++){
        $result .= '<td><div align="center">';
        $result .= '<a href="'.$all_links[$counter].'" target="blank"><img src="thumbs/'.$all_images[$counter].'.jpg"';
        $result .= ' width="220" height="160" border="0" /></a></div></td>';
    }

    $result .= '</tr>';
}

$result .= '</table>';

echo $result;

<?php
//   1000 rækker
//    10 kolonner

function microtime_float(){
   list($usec, $sec) = explode(" ", microtime());
   return ((float)$usec + (float)$sec);
}


function test1(){
    $beg = microtime_float();

// ****************************************************************
?>
<table width="100%" border="0" cellpadding="0" cellspacing="3">
    <tr>
        <?php for ( $counter = 0; $counter <= 10000; $counter++ ): ?>
        <td>
            <div align="center">
                <a href="<?php echo "link" ?>" target="_blank">
                    <img src="thumbs/<?php echo "image"; ?>.jpg" width="220" height="160" border="0" />
                </a>
            </div>
        </td>
        <?php
            if( (($counter + 1) % 4) == 0 )
            {
                if( $counter == 39 )
                    echo "\n\t</tr>\n";
                else
                    echo "\n\t</tr>\n\t<tr>\n";
            }

            endfor;
        ?>
</table>
<?php
// ****************************************************************
    return microtime_float() - $beg;
}

function test2(){
    $beg = microtime_float();
// ****************************************************************
$result = '<table width="100%" border="0" cellpadding="0" cellspacing="3">';

for ($counter=0,$i=0; $i<1000; $i++){
    $result .= '<tr>';

    for($j=0; $j<10; $j++,$counter++){
        $result .= '<td><div align="center">';
        $result .= '<a href="'.'link'.'" target="blank"><img src="thumbs/'.'image'.'.jpg"';
        $result .= ' width="220" height="160" border="0" /></a></div></td>';
    }

    $result .= '</tr>';
}

$result .= '</table>';

echo $result;
// ****************************************************************

    return microtime_float() - $beg;
}
// -----------------------------

//echo "tid for test 1 = ".test1()."<br>";
echo "tid for test 2 = ".test2()."<br>";
?>