|If this is in xp I would seriously consider using sfk instead of change.com, it can do many thing replacing text is one of them....|
It states this in the help "sfk replace"
return codes for batch files
0 = no matches, 1 = matches found, >1 = major error occurred.
This thing has quite a few features, it may be worth running "sfk dumphelp" to a text file and give it a read.
If you *must* use change.com check to see if it also leaves an errorlevel set differently for replace/no replace.