Try this workaround that helped me out.

In Excel, click Tools, Options, General (tab), Web Options... (button),
Files (tab).

If the option "Update links on save" is checked, de-select it. Ok all the
way out.

Now open and save your spreadsheet. It will now be saved with relative
links and provided that all files are in the same or a sub-directory should
work - even if you copy to a different location (provided you copy all
necessary sub-directories as well).

There is a fix for this on the MS website but it involves "fixing" the
registry (only if you really have to). So try this first.

"CR Optiker" wrote:

I have a worksheet with cells linked to files contained in the same folder
as the spreadsheet file. When I created the hyperlinks, the full path was
included. I want to burn the files and spreadsheet to a CD, so want the
hyperlinks to be relative, not containing the absolute path of the folder
on my hard drive.

I understand that in teh absense of a path, the default is relative, but
don't see how to create the hyperlink without a path.

I read the help sections and understand relative hyperlinks, but see no
help on how to do that. When I follow instructions for editing hyperlinks,
I am given the same dropdown folder tree structure to select from as when I
originally created the hyperlinks, so that doesn't change anything. I also
understand using a base address, but don't see how that applies.

How do I create relative hyperlinks so that they will be found after
burning the spreadsheet and files to the same folder on a CD?

Thanks!
Optiker