Possible to execute php string?

[Myptopelieree]

If I have a variable that contains PHP code... something like this:\[code\]$PageCode = "<?php\r\nrequire_once(\"../code/rushs_flickr_photos.php\");\r\n?>";\[/code\]Is it possible to execute that code within my page and assign it back to another variable? something like:\[code\]$PageContent = exec($PageCode);\[/code\]