A few people have said that this has stopped a similar problem from occurring.
Maybe it'll help you--but you'll have to test it to make sure.

In xl2003 menus:
File|Properties|Summary Tab|Hyperlink Base
change it to C:\
(something that's always available)

In xl2007:
Click on the Office button
Choose Prepare, then properties.
Then use the arrow on the Document Properties dropdown
Choose Advanced Properties
And then change the hyperlink base on the Summary tab.


I like to use the =hyperlink() worksheet function. It has never failed me this
way:

=hyperlink("file:////yourpathtothe/something.xxx","Click me")


George R. wrote:

I have a Hyperlink in my worksheet that points to a document on our network
server, but when I save this file and email it to the group the hyperlink
changes to point to my hard drive where the document is not located.

Tools - Options - General - Web Options - Files - Uncheck update links
on save doesn't work. Also, I erased the file default location as this was
pointing to my hard drive; this seemed to work for awhile but not any more.

--

Dave Peterson