[xsl] processing multiple values in a single attribute

I could help with a problem I haven't been confronted with until now. I 
am converting SGML into well-formed XML, then using XSLT to 
restructure/re-tag the XML to a different DTD.
I need to convert each value of single attribute to an XML structure. 
I'm not really sure where to start. I'm using XSL 1.0. I started with a 
for-each for the attribute FAULTS itself, but that's not the result I 
need. I basically need to traverse through each value of FAULTS
Here is my input element:

<FAULT-REF FAULTS="PF01 PF02 PF03 PF04 PF05 PF06 PF07 PF08 PF09 PF10 PF11">

I need transfrom each value of "FAULTS" (PF01, PF02, etc)  into this:


<statemanipulation>
   <variableref name="PF01"/>
       <fault fault-code="PF01" fault-state="ok"/>
</statemanipulation>
<statemanipulation>
   <variableref name="PF02"/>
       <fault fault-code="PF02" fault-state="ok"/>
</statemanipulation>  
<statemanipulation>
   <variableref name="PF03"/>
       <fault fault-code="PF03" fault-state="ok"/>
</statemanipulation>
..
..
..
etc.



Any help would be much appreciated.
This list has been a huge benefit to me. Thanks to the contributors 
here, I've had many "AHA" moments and I want to thank everyone for there 
assistance in the past.
Charles Flanders


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