Here is one solution...

Expand your VLookup to columns B and C. (B:C) In column C, put the word
Auto in every cell (or, alternatively, you could put a different value for
each row.) Then Hide column C. (you could use security to protect the
column, if necessary.) Then, change the column index number in your VLookup
from 1 to 2. When a match is found, you'll see the value in column C. When
it's not found, you'll see your error message.

"duketter" wrote:

Excel 2007 - I am trying to create a vlookup formula that returns an exact
phrase if there is or is not a match. So far I have this:
=IFERROR(VLOOKUP(I5,'32pl'!B:B,1,FALSE),"Manual")

If there is not a match, it correctly returns "Manual" in my cell. However,
if there is a match, I want it to return the word "Auto" in my cell.