Allthough I would suggest to remove some redundancy in the code to make it a bit more readable:

print qq|<form action="test.cgi" method="post">\n|,
      qq|<center><select name="selected" size="1">\n|;

foreach ($item1, $item2, $item3, $item4, $item5) {
    my $selected_flag = $input{selected} eq $_ ? "selected" : "";
    print qq|<option value="$_" $selected_flag> $_ </option>\n|;
}

print qq|<INPUT type="submit" name="submit" value="Select"\n|,
      qq|</form><p><br>\n|, 
      qq|</select>\n|;
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Of course, I'd like also recommend to use the CGI module.

Greetings,
Janek