Some clarification of my delimma;

Using the "Find or Replace dialog, clicking on the "Options" button for
Replace, then the Format button", specifying a font format, and then clicking
on the "Replace All" button results in all of the text in the cells which
contain the "Find What" text string being formatted with the font format
option and not just the text string specified in the "Replace with" box.

What I am attempting to do is "Find and Replace" within all the cells in a
column or row the text string "shall" with the text string "shall" <bold,red
and not affect any of the other text within each cell. Note: it could be any
text string not just "shall".

For example a cell that contained;

"Excel shall not format any text in a cell except the text string specified
in the "Replace with" box"

Would become;

"Excel (shall <bold, red) not format any text in a cell except the text
string specified in the "Replace with" box"

This is very frustrating because this could be done in previous versions of
Excel but has apparently been lost in the current 2003 Professional Edition.

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"jmn13" wrote:

Prior to 2003 one could "find & replace" a text string with a text string
that was formatted; i.e. bold or "red" text. Now it appears that when you
select formatting for the replace box it applies it to the entire cell and
not just to the replacment text string. Am I overlooking something? Can I
still just replace text with a formatted text string