If I understand correctly, you just want to match both column A and column B and
return the value in column C for the first row that matches A:B.

=index(othersheet!$c$1:$c$100,
match(1,(a2=othersheet!$a$1:$a$100)*(b2=othersheet !$b$1:$b$100),0))

or

=index(othersheet!$c$1:$c$100,
match(1,("Value 1"=othersheet!$a$1:$a$100)*("SP"=othersheet!$b$1:$ b$100),0))

(one cell)

These are both array formulas. Hit ctrl-shift-enter instead of enter. If you
do it correctly, excel will wrap curly brackets {} around your formula. (don't
type them yourself.)

Adjust the range to match--but you can't use the whole column.

Jeff wrote:

I urgently need to define a formula that execute the following:

I need to do a vlookup on Value 1 to return in the value in column "C" ONLY
AND ONLY IF the value in column "B" is "SP". Then I need to do a vlookup on
Value 1 to return the value in column "C" ONLY ANLY IF the value in column
"B" is "ZA"

Value 1 SP 1000035
Value 1 ZA 1000036
--
Regards,
Jeff

--

Dave Peterson