[digitaloctane]

This is copied directly from flash help.

this line: features_lv.load("safetyfeatures.txt"); Thats where you would reference your .txt file.

and: newFeatures_txt is the instance name of your dynamic text field.

// Load text as variable and assign it to the 
// dynamic text field
var features_lv:LoadVars = new LoadVars();
features_lv.onLoad = onText;
features_lv.load("safetyfeatures.txt");
function onText(success:Boolean) {
    if (success) {
        newFeatures_txt.text = features_lv.safetyfeatures;
    } else {
        newFeatures_txt.text = "unable to load text file.";
    }
}