Iframe, Does this count as a link?

[mightyb]

<iframe src="http://www.mydomain.com/test.php" width="480" height="480" align="center" frameborder="0"><a href="http://www.mydomain.com">Some text here</a></iframe>


Does anyone know if this will work as a backlink when people start using that code on their blogs etc. ? Some say it will, some say it wont. I need to know for sure.

Thanks!