String.Format excepción cuando la cadena de formato contiene "{"

Estoy utilizando VSTS 2008 + C # + .Net 2.0. Al ejecutar la siguiente declaración, hay una excepción FormatException lanzada desde la declaración String.Format, ¿alguna idea de lo que está mal?

Aquí es donde obtener el template.html que estoy usando. Quiero formatear esta parte m = {0} en template.html.

    string template = String.Empty;
    using (StreamReader textFile = new StreamReader("template.html"))
    {
        template = textFile.ReadToEnd();
        String.Format(template, "video.wmv");
    }

http://www.mediafire.com/download.php?u4myvhbmmzg

EDITAR 1:

Aquí está el contenido de mi template.html,

<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd">
<html xmlns="http://www.w3.org/1999/xhtml" >
<!-- saved from url=(0014)about:internet -->
<head>
    <title>Silverlight Project Test Page </title>

    <style type="text/css">
    html, body {
        height: 100%;
        overflow: auto;
    }
    body {
        padding: 0;
        margin: 0;
    }
    #silverlightControlHost {
        height: 100%;
    }
    </style>

    <script type="text/javascript">
        function onSilverlightError(sender, args) {

            var appSource = "";
            if (sender != null && sender != 0) {
                appSource = sender.getHost().Source;
            } 
            var errorType = args.ErrorType;
            var iErrorCode = args.ErrorCode;

            var errMsg = "Unhandled Error in Silverlight 2 Application " +  appSource + "\n" ;

            errMsg += "Code: "+ iErrorCode + "    \n";
            errMsg += "Category: " + errorType + "       \n";
            errMsg += "Message: " + args.ErrorMessage + "     \n";

            if (errorType == "ParserError")
            {
                errMsg += "File: " + args.xamlFile + "     \n";
                errMsg += "Line: " + args.lineNumber + "     \n";
                errMsg += "Position: " + args.charPosition + "     \n";
            }
            else if (errorType == "RuntimeError")
            {           
                if (args.lineNumber != 0)
                {
                    errMsg += "Line: " + args.lineNumber + "     \n";
                    errMsg += "Position: " +  args.charPosition + "     \n";
                }
                errMsg += "MethodName: " + args.methodName + "     \n";
            }

            throw new Error(errMsg);
        }
    </script>
</head>

<body>
    <!-- Runtime errors from Silverlight will be displayed here.
    This will contain debugging information and should be removed or hidden when debugging is completed -->
    <div id='errorLocation' style="font-size: small;color: Gray;"></div>

    <div id="silverlightControlHost">
        <object data="data:application/x-silverlight," type="application/x-silverlight-2" width="500" height="240">
            <param name="source" value="ClientBin/VideoPlayer.xap"/>
            <param name="onerror" value="onSilverlightError" />
            <param name="background" value="white" />
            <param name="initParams" value="cc=true,markers=true,m={0}" />
            <a href="http://go.microsoft.com/fwlink/?LinkID=115261" style="text-decoration: none;">
                <img src="http://go.microsoft.com/fwlink/?LinkId=108181" alt="Get Microsoft Silverlight" style="border-style: none"/>
            </a>
        </object>
        <iframe style='visibility:hidden;height:0;width:0;border:0px'></iframe>
    </div>
</body>
</html>

gracias en avdance, george

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