<Style>  
   A:Link{ Color: white; Text-decoration: underline}  
   A:Visited{ Color: white; Text-decoration: underline}  
   A:Hover{ Color: white; Text-decoration: none}  
   td, body {font-family: verdana, arial, helvetica; font-size:11px;}   
   </Style>  

<SCRIPT LANGUAGE="JavaScript"><!--  

document.onmouseover = domouseover;  
document.onmouseout = domouseout;  

function domouseover() {  
   if(document.all){  
   srcElement = window.event.srcElement;  
   if (srcElement.className.indexOf("fade") > -1) {  
   var linkName = srcElement.name;  
   fadein(linkName);  
   }  
   }  
}  

function domouseout() {  
   if (document.all){  
   srcElement = window.event.srcElement;  
   if (srcElement.className.indexOf("fade") > -1) {  
   var linkName = srcElement.name;  
   fadeout(linkName);  
   }  
   }  
}  

function makearray(n) {  
   this.length = n;  
   for(var i = 1; i <= n; i++)  
   this[i] = 0;  
   return this;  
}  

hexa = new makearray(16);  
for(var i = 0; i < 10; i++)  
   hexa[i] = i;  
hexa[10]="a"; hexa[11]="b"; hexa[12]="c";  
hexa[13]="d"; hexa[14]="e"; hexa[15]="f";  

function hex(i) {  
   if (i < 0)  
   return "00";  
   else if (i > 255)  
   return "ff";  
   else  
   return "" + hexa[Math.floor(i/16)] + hexa[i%16];}  

function setbgColor(r, g, b, element) {  
   var hr = hex(r); var hg = hex(g); var hb = hex(b);  
   element.style.color = "#"+hr+hg+hb;  
}  

function fade(sr, sg, sb, er, eg, eb, step, direction, element){  
   for(var i = 0; i <= step; i++) {  
setTimeout("setbgColor(Math.floor(" +sr+ " *(( " +step+ " - " +i+ " )/ " +step+ " ) + " +er+ " * (" +i+ "/" +step+ ")),Math.floor(" +sg+ " * (( " +step+ " - " +i+ " )/ " +step+ " ) + " +eg+ " * (" +i+ "/" +step+ ")),Math.floor(" +sb+ " * ((" +step+ "-" +i+ ")/" +step+ ") + " +eb+ " * (" +i+ "/" +step+ ")),"+element+");",i*step);  
   }  
}  
function fadeout(element) {  
   fade(255,150,0, 255,255,255, 30, 1, element);  
}  
function fadein(element) {  
   fade(255,255,255, 255,150,0, 23, 1, element);  
}  
//--></SCRIPT>

<a href="Сайт" name="fading_link_1" class="fade">Текст</a>