The ADDRESS function returns the cell address, AK8 in this case as text. You
cannot do the second formula because you are saying =T8-"AK8". Using the
INDIRECT function gets the value at address AK8 and subtracts it from T8.

"Dave F" wrote in message
...
=ADDRESS(8,MATCH(AO5,Z5:AK5,0)+25)) returns AK8.

=T8-ADDRESS(8,MATCH(AO5,Z5:AK5,0)+25)) returns #VALUE!

=T8-INDIRECT(ADDRESS(8,MATCH(AO5,Z5:AK5,0)+25))) returns the
appropriate calculation.

Why?