First of all, if I'm misunderstanding the concept of announcements, my apologies...

I have been trying to get this module to work according to the way I think it should, it does not matter how much text I put into the announcement, the whole announcement gets displayed on the site. 
What I am however aiming for is a intro text, the first few words of the announcement, followed by a "read more..." link to the rest of the announcement, much like the articles on the project home page.

I'm no expert to DNN so if this is not the intended function of the module, my bad...

Following are the settings for my announcement:
History: "blank"
Description Length: 10
Template:

<table><tr><td>[IMAGESOURCE]</td><td valign="top"><span class="SubHead">[TITLE] - [PUBLISHDATE]</span><div class="Normal DNN_ANN_Description">[DESCRIPTION]&nbsp;<a href="[URL]" target="[NEWWINDOW]">[MORE]</a></div><br></td></tr></table>

Thanx for a quick reply, I figured so much out,  the thing is I just want to link to the rest of the announcement.
Do you guys know how the dotnetnuke.com ppl do it?  for example here

Perhaps its not the announcements module at all???  Can anyone enlighten me?   ...please?

The Repository module has a skin for managing articles which you may like to try as an alternative.

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Lorraine Young
www.dnnangel.com
Author of the DotNetNuke User Manuals
& Co-author "DotNetNuke For Dummies"