mysql> select version();
+---------------------+
| version()           |
+---------------------+
| 5.0.24-Debian_1-log | 
+---------------------+
1 row in set (0.00 sec)

mysql> CREATE TABLE `ads` (
    -> `id` int(11) NOT NULL auto_increment,
    -> `text` text NOT NULL,
    -> `type` tinytext NOT NULL,
    -> PRIMARY KEY (`id`)
    -> ) TYPE=MyISAM AUTO_INCREMENT=1 ; 
Query OK, 0 rows affected, 1 warning (0.04 sec)

mysql> show warnings;
+---------+------+--------------------------------------------------------------------------+
| Level   | Code | Message                                                                  |
+---------+------+--------------------------------------------------------------------------+
| Warning | 1287 | 'TYPE=storage_engine' is deprecated; use 'ENGINE=storage_engine' instead | 
+---------+------+--------------------------------------------------------------------------+
1 row in set (0.00 sec)