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Default Is it possible to use master lists in Excell ?

I want to be able to use masterlists and then copy from them to other
spreadsheets. Currently I have just linked them and that obviously doesn't
work. What would be the best way of creating a continuos link between a
masterlist and another spreadsheet - the problem is that the datarange may
change, not by much but still by say 5%.
Would vlookup be the best option ?
 
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