IE display of definition list after an image element

Hi,

I have run into a problem with IE. I have a floated div. In the floated div I have an image and after the image I have a definition list.

IE displays the Definition list in an odd manner. It does not display the first <dt> element. It then chops off part of the text for the first <dd> element.
When I remove the image from the code. IE display the entire definition list accurately. Is this some sort of a bug? I did a search for this but none of the IE bugs seems to record this.

Any ideas.

Thanks, happy holidays.