Okay if you open a virgin custom island to edit it will look something like this:
/* PHP CODE HERE */
/* BODY HERE */
$body = <<<EOF
EOF;
To add a link you place the html between the EOF tags.
so it would look like this:
/* PHP CODE HERE */
/* BODY HERE */
$body = <<<EOF
<a href="http://www.getitlubed.com/freecatalog.html">Free Catalog</a>
EOF;
Of course you would edit the url to be where the catalog is.