syntax fejl

Kan nogen finde fejlen i denne?

Warning: preg_replace() [function.preg-replace]: Unknown modifier ' ' in list.php on line 175

Warning: preg_replace() [function.preg-replace]: No ending delimiter '^' found in list.php on line 177

$text = preg_replace("^\*([^\r\n]*)", "<li>$1</li>", $produkt['varetekst']);
   
$text = preg_replace("^((?:\<li\>.*?\</li>\r\n)+)", "<ul class=\"pkt\">$1</ul>", $text);