Here is some info from MS.
However, I think only they understand it...
http://support.microsoft.com/kb/328440/en-us
"Description of link management and storage in Excel"
--
Jim Cone
Portland, Oregon USA
http://www.realezsites.com/bus/primitivesoftware
(Excel Add-ins / Excel Programming)



"Grey Geek" <Grey
wrote in message
I have inherited an Excel 2003 workbook with 21 tabs in it. It was set up
originally as a stand-alone document to allow users to enter data, save the
file and return it to the originator. Before the file is sent to the user
both the workbook and the worksheets are protected so only specific cells can
be altered. None of these cells contain hyperlinks.

In order to ease navigation within the document and to have a "quick find"
feature for the user, several (dozens actually) hyperlinks were created. For
the most part this all works fine except that, occasionally, a user will
receive the file; open it; navigate and enter their data; rename and save the
file and return it via email to the originator. When the originator opens the
file all of the hyperlinks now refer to the location the user saved the file
in and are therefore considered invalid.

Is there a way to "lock down" the hyperlinks such that they always refer to
the locations within the file only, regardless of the name or location of the
file? If I were not already bald and grey this would surely make me so!