The format would be

=INDIRECT("'S:\Regular Procedural Reports - Test Folder AM\Credit Database
2010 version\["&M16&").xls]rPortfolioAnalysis'!$S$66"

but you cannot use INDIRECT on a closed workbook


--

HTH

Bob

"Andrew Mackenzie" wrote in message
...
I would be grateful for any halp with this.

I am trying to reference a cell in a different workbook using the INDIRECT
function but I am returning #REF. This is the formula I am using :

='S:\Regular Procedural Reports - Test Folder AM\Credit Database 2010
version\[indirect(+M16).xls]rPortfolioAnalysis'!$S$66

Can anyone please help?

Many thanks,

Andrew