I am trying to use a receipt date and add to that, a number of days into the
future, and have excel provide me with that date using only workdays and not
holidays or weekends. I consider the receipt date as already 1 day old. So I
am using the following calculation:

=WORKDAY(A7,3,Holidays!$A$1:$A$70)-1

It works fine unless the holiday lands on a Monday.
example: If I have a receipt date of 1/14/09 and I want to add 3 days to
that the result is 1/19/09 which is a date in my holiday list.