If you open the other workbook, does the formula evaluate ok?

If no, then my guess is that your formula is wrong.

If yes, then my guess changes to...

You just upgraded to xl2002+ and answered no to the update links when the file
opened.

xl2002+ likes to recalculate any workbooks that were created in previous
versions. In earlier versions of excel, if you answer No to the update links
prompt, the existing values are kept. In xl2002+, you get errors.

Jim Rech posted a registry tweak:
http://groups.google.com/groups?thre...GP11.phx .gbl

KarenF wrote:

Hi,

I have a vlookup formula that references a range name in an external
workbook. When I have done this with earlier versions of Excel I don't
recall having any problems. However, now I keep losing my link to the lookup
table file, and my formula returns #REF! I always thought that with a
vlookup, it was not essential to have the lookup table file open. Maybe it
is.

Any ideas please?

Many thanks,

Karen.

--

Dave Peterson