That's the way it is, OFFSET does not work with closed workbooks, if you can
replace with index and match it will work


Regards,

Peo Sjoblom


"MKunert" wrote in message
...
I have an offset function with a nested match function that looks to a
separate spreadsheet. If I have both spreadsheets open, it works fine.
If
the host ss is not open, I get a #VALUE! error. The vlookups on the sheet
look to the same host spreadsheet, and they are not affected. Any ideas?