You are both correct (partially).

assuming that Excel is in Automatic calculation mode then Excel will
recalculate on save or open if there is anything that needs calculating (but
not usually ALL the formulae).

But anything that needs calculating includes volatile formulae/functions and
their dependents.

for more explanation see the Excel calculation secrets section on
http://www.decisionmodels.com

Charles
______________________
Decision Models
FastExcel 2.3 now available
Name Manager 4.0 now available
www.DecisionModels.com

"Billy" wrote in message
...
A colleague of mine has an Excel spreadsheet (a fairly large one...but it
appears it should be well withing the capacity of the program) which has
many
columns containing formula

He is convinced Excel is hanging because it has all these calculations to
do. But I would think that forumla are only executed when any of the
referenced cells change...so I don't see the spreadsheet executing all
these
forumlae on save, open or close.

Am I correct, or is he?

Thx for the help