=IF('Sheet1'!B1="Large","x",IF('Sheet1'!B1="Medium ","y",IF('Sheet1'!B1="Small","z","Some other entry was present")))

Then you can just copy and paste down.
--
Best Regards,

Luke M


"Fundman" wrote:

We use Office Excel 2003- We need to insert data from preset column B in
Spreadsheet 1 to "new column B" in Spreadsheet 2 (downloaded data in Col A,
but new Col B created by us). Thus, the formula you advise for cells in Sheet
2 column B, need to produce the result x=Medium, y=Small and Z=large, based
on naming criteria match.

Sheet 1 Sheet 2
Col A Col B Col A Col B
FundA Large Fund B x
FundB Medium Fund C y
FundC Small Fund A z