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You are almost certainly acquainted with the concept of floated elements. Ever since Netscape 1, it has been possible to float images by declaring, for instance, <img src="b5.gif" align="right">. This causes an image to float to the right and allows other content (such as text) to "flow around" the image. The name "floating," in fact, comes from the document "Extensions to HTML 2.0," which stated:
The additions to your ALIGN options need a lot of explanation. First, the values "left" and "right". Images with those alignments are an entirely new floating image type.