Try this:

A10 = The calculation of **1** and **2** equates to **3**.

=SUBSTITUTE(SUBSTITUTE(SUBSTITUTE(A10,"**1**",A1), "**2**",A2),"**3**",A3)

Biff

"Ruan" wrote in message
...
Hello,

I need some help with a complex find and replace formula. I need to be
able to find predefined markers (**1**, **2** etc) within a paragraph and
replace them with calculated values from cells A1, A2 and A3 respectively.

Example of paragraph
The calculation of **1** and **2** equates to **3**.

Example of result
The calculation of 748 and 27 equates to 20196.

Thanks
Ruan