var el = 0;

function RefreshClock() 
{
    if(el) 
    {
        clearTimeout(el);
        el  = 0;
    }

    getTheDate(null);
    el = setTimeout("RefreshClock()", 111000);
}
function StartClock()
{
   el = setTimeout("RefreshClock()", 500);
}

function StopClock()
{
   if(el)
   {
      clearTimeout(el);
      el  = 0;
   }
}

function getTheDate(GMToffset)
{
    var orgdate=new Date();
    var year=orgdate.getYear();
    if (year < 1000)
    year+=1900;
    var day=orgdate.getDay();
    var month=orgdate.getMonth();
    var daym=orgdate.getDate();
    if (daym<10)
    daym="0"+daym;
    var dayArr=new Array("Sunday","Monday","Tuesday","Wednesday","Thursday","Friday","Saturday");
    var monthArr=new Array("January","February","March","April","May","June","July","August","September","October","November","December");
    var time = document.getElementById("time");
    var theDate = new Date();
    var frmtedDate = theDate.getHours();
    var GMTchange;

    if ((GMToffset!="0")&&(GMToffset!=null))
    {
        var oprtor = GMToffset.slice(0,1);
        if(GMToffset.length>2)
        {
            GMTchange = GMToffset.slice(1,3);        
        }
        else
        {
            GMTchange = GMToffset.slice(1,2);        
        }

        var preFrmtedDate = theDate.getHours();

        if(oprtor=="-")
        {
            frmtedDate = Number(parseFloat(preFrmtedDate)-parseFloat(GMTchange));
        }
        else if(oprtor=="+")
        {
            frmtedDate = Number(parseFloat(preFrmtedDate)+parseFloat(GMTchange));
        }
    }

    var theMinuten = theDate.getMinutes();

    if(parseFloat(frmtedDate)>24)
    {
        day = day+1;
        daym = daym+1;
        frmtedDate = parseFloat(frmtedDate)-24;
    }
    if(frmtedDate<10)
    {
        frmtedDate = "0"+frmtedDate;
        frmtedDate = parseFloat(frmtedDate);
    }    
    if(parseFloat(theMinuten)<10)
    {
        theMinuten = "0"+theMinuten;
        theMinuten = parseFloat(theMinuten);
    }
    time.innerHTML = frmtedDate;    
    time.innerHTML = time.innerHTML + "." + theMinuten + "&nbsp;" + dayArr[day] + ",&nbsp;" + monthArr[month] + "&nbsp;" + daym + ",&nbsp;" + year;
}

<table width="750px"  border="0" cellpadding="0" cellspacing="2" >
  <tr>
    <td height="18" colspan="8" bgcolor="<%=headerCol%>"><table width="100%" border="1" bordercolor="<%=headerBrd%>" cellpadding="0" cellspacing="0">
        <tr>
          <td align="center" bordercolor="<%=headerCol%>" valign="top"><img border="0" src="/v2/asp/images/picco.gif"></td>
          <td bordercolor="<%=headerCol%>" valign="bottom" ><table align="right">
              <tr>
                <td id="location"><select name="cities" id="cities" class="selects" onchange="getTheDate(this.options[this.selectedIndex].value);">
                    <option value="0">London</option>
                    <option value="-5">New York</option>
                    <option value="+1">Paris</option>
                    <option value="-8">Los Angeles</option>
                    <option value="+9">Sydney</option>
                    <option value="+8">Singapore</option>
                    <option value="+13">Auckland</option>
                  </select>
                </td>
                <td id="time"></td>
              </tr>
            </table></td>
        </tr>
      </table>