Do small chunks of text belong into a paragraph

Hi everybody,

Just a quick question:

What is the right way of marking up small pieces of Text:

<div id="footer">last edited: 2003-05-30 by Levin Alexander</div>
or:
<div id="footer"><p>last edited: 2003-05-30 by Levin Alexander</p></div>

Thanks,
Levin

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