Edit/Add page failure with lookup field with Add New record option

I am currenly using ASP Runner 5.0 build 261... My issue is as follows
One the Edit or Add page - when using a lookup field and allowing to (Add New) to the lookup table I end up with a failure when ever a special character is used when adding a new lookup. For example if I was to enter in a new lookup of 'Bob' - without the single quotes it works fine... But if I were to enter in Bob's Place or Bob & Mike the data most of the time appears to get entered into the DB table correctly but the lookup field returns the VB code to the Lookup box for expample what should be Bob & Mike comes back as Bob & Mike
Is there a way to correct the Replace feature for the special characters with using the Lookup and allowing the (Add New) to the table?