One way:

CF1: Cell value is equal to ="High"
Format1: Bold, red

In article ,
"Birmangirl" wrote:

...I know how to apply Conditional Formatting to cells containing numeric
data; is it possible to apply it to cells where the result is textual? For
example:
=if(a1=5000,"High","Low")
In this instance, I would want to conditionally format this cell so that if
the result is High, then the text should be bold and red. Thanks in advance.
I'm using Excel 2002...