I have a folder with pictures and another folder with Excell spreadsheet in
which I have hyperlinks defined to the pictures in the pictures folder. I am
using Office 2003. I am experiencing a very strange behaviour:

a) I can open my Excell file from two other computers on my network and when
I click on hyperlink the pictures they display O.K. I can also add new
hyperlinks pointing to the pictures and again they work fine.

b) when I open the same Excell file on my local computer and try to click on
the same hyperlink nothing happens - no errors no pictures displayed

c) again on my local computer5, when I try to add a new hyperlink in the
same spreadsheet pointing to the same folders with pictures it seems to
define it correctly, but when I click on hyperlink, nothing happens again
(no errors and the picture does not display correctly)

What could be causing this problem?

Thanks