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But... if your URL includes one or more keywords that are relevant to your business and you are optimizing the page for those keywords, it would make a difference if you were to use [********xxxxx.com...] or to use ../index.htm, as, every time you use the full URL you would be including keywords in the link and keywords within the URL are given extra relevancy by some search engines (GG included), and you should keep this in mind as optimization is based in balancing all the elements of the page according to SE's algorithms.
Hope this helps.