David McRitchie has some code that you can use to change the hyperlinks:

http://www.mvps.org/dmcritchie/excel/buildtoc.htm
look for:
Fix Hyperlinks (#FixHyperlinks)

If you're new to macros, you may want to read David McRitchie's intro at:
http://www.mvps.org/dmcritchie/excel/getstarted.htm

And to stop it from happening again...

A few people have said that this has resolved the problem for them:

File|Properties|Summary Tab|Hyperlink Base
change it to C:\
(something that's always available)

Kevin Clark wrote:

Can anyone please help. Excel 2007 just had to unexpectedly quit - ~It then
spent time recovering something then it came back. Unfortunately The sheet
contains many many Hyperlinks to Word and Excel files on a shared drive.

Links looked like this:
///F:\CLIENTS\BMS\BMS%20Single%20Event%20Files%202007 \527%20BMS%20SEIC%20-%20MILAN\Hotel%20Booking%20Info\527%20-%20Hotel%204nights%20-%20Bullet.txt

But now like this:
C:\Documents and Settings\contract pc\Application Data\CLIENTS\BMS\BMS
Single Event Files 2007\527 BMS SEIC - MILAN\Hotel Booking Info\527 - Hotel
4nights - Bullet.txt

All the links have changed in the same way. Is there a way back???

Any help greatfully recived. Many thanks Kev.

--

Dave Peterson