multiple search and replace

The following snip works fine but can anyone tell me whether there is a
better more efficient way to replace more than one item.

<xsl:template match="text()">
  <xsl:call-template name="_replace_string">
    <xsl:with-param name="string" select="." />
    <xsl:with-param name="find" select="'?degrees?'" />
    <xsl:with-param name="replace" select="'&#xB0;'" />
    <xsl:with-param name="find2" select="'Nm'" />
    <xsl:with-param name="replace2" select="'N&#xb7;m'" />
  </xsl:call-template>
</xsl:template>

<!-- template to look for all instances of string $find and
replace that with string $replace -->
<xsl:template name="_replace_string">
<xsl:param name="string" select="''"/>
<xsl:param name="find" select="'find'"/>
<xsl:param name="replace" select="'replace'"/>
<xsl:param name="find2" select="'find2'"/>
<xsl:param name="replace2" select="'replace2'"/>
<xsl:choose>
<xsl:when test="contains($string,$find)">
<xsl:value-of
select="concat(substring-before($string,$find),$replace)"/>
<xsl:call-template name="_replace_string">
<xsl:with-param name="string" select="substring-after($string,$find)"/>
<xsl:with-param name="find" select="$find"/>
<xsl:with-param name="replace" select="$replace"/>
</xsl:call-template>
</xsl:when>
<xsl:when test="contains($string,$find2)">
<xsl:value-of
select="concat(substring-before($string,$find2),$replace2)"/>
<xsl:call-template name="_replace_string">
<xsl:with-param name="string" select="substring-after($string,$find2)"/>
<xsl:with-param name="find2" select="$find2"/>
<xsl:with-param name="replace2" select="$replace2"/>
</xsl:call-template>
</xsl:when>
<xsl:otherwise>
<xsl:value-of select="$string"/>
</xsl:otherwise>
</xsl:choose>
</xsl:template>



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