=ISNUMBER(LOOKUP(9.99999999999999E+307,SEARCH($B$1 :$B$3,A1)))+0

A result of 1 means a hit, 0 no hit.

Prohock wrote:
I need a function that will use a column of text values and test these values
to see if one or more of the values exist in a single cell. If it does I need
the function to return true or false.

Ie. cell A1 contains the text "Jim Smith" the B column contains the test
names (column of test values ) ie. B1 is "bill" B2 is "fred" B3 is "jim".
Because Jim is in the cell A1 I would need the function in C1 to return the
value "true". If A1 contained the text "bob smith" then function in C1 would
return the value "false".