I guess the spreadsheet containing the hyperlinks is located in the
IMAGES folder. The hyperlinks are relative to the location of the
spreadsheet.

Something like this might do it:

Sub ChangeHype()
Dim WS As Worksheet
Dim H As Hyperlink
For Each WS In ActiveWorkbook.Worksheets
For Each H In WS.Hyperlinks
' change it to start after the last \
H.Address = Mid(H.Address,InStrRev(H.Address,"\"))
Next
Next
End Sub

Bill Manville
MVP - Microsoft Excel, Oxford, England
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