Index: src/wp-login.php
===================================================================
--- src/wp-login.php	(revision 25200)
+++ src/wp-login.php	(working copy)
@@ -249,8 +249,14 @@
 	$message .= sprintf(__('Username: %s'), $user_login) . "\r\n\r\n";
 	$message .= __('If this was a mistake, just ignore this email and nothing will happen.') . "\r\n\r\n";
 	$message .= __('To reset your password, visit the following address:') . "\r\n\r\n";
-	$message .= '<' . network_site_url("wp-login.php?action=rp&key=$key&login=" . rawurlencode($user_login), 'login') . ">\r\n";
 
+	$retrieve_password_url = network_site_url( 'wp-login.php?action=rp&key='. $key .'&login=' . rawurlencode( $user_login ), 'login' );
+	if ( 'text/html' == apply_filters( 'wp_mail_content_type', 'text/plain' ) ) {
+		$message = nl2br( $message ) . '<a href="'. $retrieve_password_url .'">'. $retrieve_password_url .'</a><br />';
+	} else {
+		$message .= '<' . $retrieve_password_url . '>' . "\r\n";
+	}
+
 	if ( is_multisite() )
 		$blogname = $GLOBALS['current_site']->site_name;
 	else