Thanks for the advice Ashley.
For in stock and out of stock items, it works perfectly. However, the preorder items are displaying as out of stock.
This is the code I used:
{if $products[product].preorder eq "Y"}<a href="product.php?productid={$products[product].productid}&cat={$cat}&page={$navigation_p age}{if $featured eq 'Y'}&featured{/if}" class="pl2_is"><b><u>PRE-ORDER</u>:</b> Release Date: {$products[product].dvd_release_date|date_format:"%e %b %Y"}</a>{elseif $products[product].avail gt 0}<a href="product.php?productid={$products[product].productid}&cat={$cat}&page={$navigation_p age}{if $featured eq 'Y'}&featured{/if}" class="pl2_is"><b><u>IN-STOCK</u>:</b> Ships immediately</a>{elseif $products[product].preorder ne "Y" || $products[product].avail eq "0"}<a href="product.php?productid={$products[product].productid}&cat={$cat}&page={$navigation_p age}{if $featured eq 'Y'}&featured{/if}" class="pl2_is"><b><u>OUT OF STOCK</u>:</b> Normally ships within 14 days</a>{/if}<br />
Can you please offer any further suggestions so that preorder items display as such, rather than as out of stock?
The preorder items have a zero stock level.
Thanks very much.