Some people have posted back that this works--but for a slightly different
problem. But maybe it'll work for you.

Open your workbook (fix the hyperlinks)
file|Properties|summary tab
change the hyperlink base to something that's always available (maybe c:\)

If that doesn't work, maybe you can drop the insert|Hyperlink version and use
the =hyperlink() worksheet function in an adjacent cell???

I've never seen the =hyperlink() version get messed up.

Eric Lee wrote:

hyperlink in excel fails after saving... \\server\folder\subfolder\file.xls
tunrs to //server/folder/subfolder/file.xls after saving.

thus, i get error message " the address for this site is not valid. Check
the address and try again"

--

Dave Peterson