Compile Syntax Error: non ASCII letters in a string

I have a python file that contains a long string of HTML. When I compile & run this file/script I get this error:

_SyntaxError: Non-ASCII character '\x92' in file   C:\Users...\GlobalVars.py on line 2509,   but no encoding declared; see http://www.python.org/peps/pep-0263.html for details_

I have followed the instructions and gone to the url suggested. But putting something like this at the top of my script still doesn't work:

#!/usr/bin/python
# -*- coding: latin-1 -*-

What do you think I can do to stop this compiler error from occuring?