--- trunk2/NEWS.pod	2004/06/20 15:49:09	373
+++ trunk2/NEWS.pod	2004/06/20 17:52:41	375
@@ -64,3 +64,24 @@
 
 For you, the user, that will result in changes to all templates. I'm sorry
 about this, but it had to be done.
+
+=head2 Order of substitution
+
+This was never really documented, so here it is now:
+
+=over 5
+
+=item fields
+
+substitution of fields like C<v200^a> into values
+
+=item lookups
+
+next, lookups are performed (C<lookup{...}>)
+
+=item format
+
+then formats (defined by C<format_name=> and C<format_delimiter=>) are
+applied. If formats have lookups, they will be performed again.
+
+=cut