Executing if and else at time

Hello:
I have a var called $Enlace that contains a string with one or more URL. In my case contains 2 URL in the same string separated by this ";"
Here is the code:
<?php
while ($row = mysql_fetch_array($result)){
$Enlace=$row['Enlace'];
if (ereg(";", $Enlace)) {
foreach (split(";", $Enlace) as $url) {
if (ereg("@", $url)) {
$href.="<a href="mailto:$url" class="arialRosaOscuro11Link" target="blank">$Enlace</a>";
$href.="<br>";
}
elseif (ereg("http://",substr($url,0,7)) || ereg("https://",substr($url,0,8))) {
$href.="<a href='$url' class='arialRosaOscuro11Link' target='blank'>$Enlace</a>";
$href.="<br>";
}
else {
$href.="<a href='http://".$url."' class='arialRosaOscuro11Link' target='blank'>$Enlace</a>";
$href.="<br>";
}
}
}else{
if (ereg("@", $Enlace))
$href="<a href="mailto:$Enlace" class="arialRosaOscuro11Link" target="blank">$Enlace</a>";
elseif (!ereg("http://",(substr($url,0,7))) || !ereg("https://",(substr($url,0,8))))
$href="<a href='http://".$Enlace."' class='arialRosaOscuro11Link' target='blank'>$Enlace</a>";
else
$href="<a href='$Enlace' class='arialRosaOscuro11Link' target='blank'>$Enlace</a>";
}
?>

The problem is that everything works fine but when I have per example this:
"http://www.escardio.org/congresses/World_Congress_Cardiology_2006/;webmaster@escardio.org" my code reads separated both url's but writes the next:

http://www.escardio.org/congresses/World_Congress_Cardiology_2006/;webmaster@escardio.org
http://www.escardio.org/congresses/World_Congress_Cardiology_2006/;webmaster@escardio.org

which one with one link, one mailto and one www
Which could be the problem?

Thanks in advance