Advanced Excerpt
This plugin adds several improvements to WordPress’ default way of creating excerpts.
1. It can keep HTML markup in the excerpt (and you get to choose which tags are included)
2. It trims the excerpt to a given length using either character count or word count
3. You can customise the excerpt length and the ellipsis character that will be used when trimming
4. The excerpt length is real (everything belonging to HTML tags is not counted)
5. Possibility to ignore custom excerpts and use the generated one instead
6. Theme developers can use the_advanced_excerpt() for even more control (see the FAQ)