Don't use:
Insert Hyperlink...
instead something like:

=HYPERLINK("file:///c:\Documents and Settings\Book1.xls","book1")

--
Gary''s Student - gsnu200748


"Mike K" wrote:

Oh Wise Ones,
I have a weird problem that I have never
encountered before. I inserted a hyperlink and tested it, and it worked fine.
I saved the workbook. When I the workbook again, the hyperlink was altered
with % and numbers inserted. Needless to say the hyperlink was broken. I fix
it and it changes back. What is going on?

I entered this:
\My Documents\Rubloss Calculator.xls

and it turns into this:
/My%20Documents/Rubloss%20Calculator.xls

What can I do to prevent this?

Thanks,
Mike