$re = '/<([^<>\/\s]+)[^<>]*>/m';
$str = '<li class="ulchildlink" data-hd-product="SSEPEK_11.0.0" data-hd-operatingsystem="zOS"><span class="ulchildlinktext"><a href="../../src/tpc/n007.html?view=kc">-007</a></span><br>
STATEMENT CONTAINS THE ILLEGAL CHARACTER <var class="keyword varname ibm-item-note-alternate">invalid-character</var></li>';
$subst = "<\1>";
$result = preg_replace($re, $subst, $str);
echo "The result of the substitution is ".$result;
Please keep in mind that these code samples are automatically generated and are not guaranteed to work. If you find any syntax errors, feel free to submit a bug report. For a full regex reference for PHP, please visit: http://php.net/manual/en/ref.pcre.php