Undoing links in PowerPoint

In PowerPoint 2003 you can turn off the AutoCorrect feature that makes URLs hyperlinks. In PowerPoint 2004 (Mac) I have not been able to find a way to do this. If you know where this setting is, please let me know.

Good news - There is a way to undo the hyperlink after it's been automatically added. As soon as you type the space or return after entering a URL, press Command-Z on the Mac.

This also work in PowerPoint 2003, except it is Control-Z in Windows if you have not disabled this AutoCorrect feature.

Another way is after typing the space after the URL, use the left arrow key and then Backspace, then right arrow key to continue working. This works in both PPT2003 and PPT2004.