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COBOL, REPLACE statement, 1format_pseudo-text-name
 *Conan The Librarian 

  The REPLACE statement is used to replace source program text.

  Format 1 -

   REPLACE {==pseudo-text-1== BY ==pseudo-text-2==} ...

  1 - pseudo-text-1 

  is a text-matching argument that the compiler compares against
  text-words in the source program.

  2 - pseudo-text-2 

  is a replacement item that the compiler inserts into the source
  program.
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