How do you make links in the middle of long texts?

Lets say you have a text like this:

“Instead of laboring many hours tracing a bitmap in Illustrator or Freehand, you can use a little known Flash tool to convert a bitmap into a vector - the Trace Bitmap Tool. There are two reasons you may prefer vector over bitmap in your flash movies. One: to achieve a cool look. Two: to lower your file size.”

you put that text in a text field in flash but you will need to have links on the word flash and illustrator and freehand…
how do you do the links? do you convert all the text to a graphic and then transform the works that you want in buttons??

Theres any simpler way to do this? :-/