WordPress 3 ampersand in category name

I am creating an options page for a site I am building and I have hit a problem that I have not noticed before and that is when selecting a category that has an ampersand (&) in the category name it will not show the correctly selected category when going back to the options page.

Is there a way around this?
I have tried using & but i guess as it contains the & it still errors.

This is for an options page, so I am using:

$categories_list = get_categories('hide_empty=0');

$categories = array();
foreach ($categories_list as $catlist) {
	$categories[$catlist->cat_ID] = $catlist->cat_name;
}
array_unshift($categories, "Choose a category");

then

case 'select':
?>

<div class="tfh_input tfh_select">
	<label for="<?php echo $value['id']; ?>"><?php echo $value['name']; ?></label>

<select name="<?php echo $value['id']; ?>" id="<?php echo $value['id']; ?>">
<?php foreach ($value['options'] as $option) { ?>
		<option <?php if ( get_settings( $value['id'] ) == $option) { echo ' selected="selected"'; } elseif ($option == $value['std']) { echo ' selected="selected"'; } ?>><?php echo $option; ?></option><?php } ?>
</select>
<small><?php echo $value['desc']; ?></small>
	<div class="clearfix"></div>
</div>
<?php
break;

which i think is pretty standard?

Any ideas on how i can around this so it still works with the ampersand in the category name or is this a bug?