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Posted to microsoft.public.excel.worksheet.functions
Herbert Seidenberg
 
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Default Convert Lats and longs to decimals

Or for those Down Under
=SUBSTITUTE(SUBSTITUTE
(LEFT(A1,LEN(A1)-3),"° ",":"),"' ",":")*24*
IF(OR(RIGHT(A1,1)="S",RIGHT(A1,1)="W"),-1,1)