Netscape 4.75 shows the bullets in my unordered list, while IE5 doesn't.  What gives?

Here's the code:

<!doctype html public "-//w3c//dtd html 3.2//en">

<html>

<head>
<title>(Type a title for your page here)</title>
<meta name="GENERATOR" content="Arachnophilia 4.0">
<meta name="FORMATTER" content="Arachnophilia 4.0">
</head>

<body bgcolor="#c7fefb" text="#000000" link="#d2070b" vlink="#830084" alink="#2e8867">

<img src="Power_of_Three.jpg" width="306" height="540" alt="" align="left" hspace="10">
<h1>This is what we can do</h1>
<UL>
	<LI>Cast spells
	<LI>Banish evil spirits
	<LI>Contact the other side
	<LI>Read minds
</UL>

</body>

</html>
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