This is interesting, spotted via a WebmasterWorld thread. A search for kaplan brings up sponsored listings via Google AdWords and one of those results is missing a title. Here is a screen capture.

For a full size screen capture click here.
Seems like some weird bug. The code seems to show no text in the ad title area. Here is a screen capture of the code:

Wonder how this slipped through.
Forum discussion at WebmasterWorld.

Comments:
Ohad Gliksman
05/07/2007 01:05 pm
This is a first time for me also
No Name
05/07/2007 02:38 pm
I have <a href="http://www.quickonlinetips.com/archives/2006/09/google-adsense-text-ads-without-title-links/" rel="nofollow">seen it before</a>
Andreas
05/08/2007 08:09 am
I've seen it a couple of times. And my guess is that the advertiser have used the {KeyWord: } parameter in the title, and instead of inserting a word in the parameter they have used "space". And when the keyword is longer than 25, Google shows the "space". If you notice any spelling misstakes, please keep in mind that im from Sweden. :-)