The first example strips out the HTML. The second example shows how to target a single quote using unicode.

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//Example 1: 
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var re:RegExp = /<font face=\u0022(.*)\u0022 >(.*)<\/font>/i;
var str:String = '<P ALIGN="LEFT"><FONT FACE="Arial" >this is a test</FONT></P>';

var result:Object = re.exec(str);
trace(result[1]);//Arial
trace(result[2]);//this is a test

////////////////////////////////////////////
//Example 2: Replace all of the single quotes with double
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var str2:String = "This 'is' the 'first' time 'ever'";
	str2 = str2.replace(/\u0027+/g, '"');
	trace(str2);