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Default Excel File with Numerous links takes a long time to open

I have an excel file with a large number of external data links. I want to
be able to open the file without it automatically going out to attempt to
update all the data. In Excel 2003, it would prompt me if I wanted to update
or not. Now it seems to do it automatically which means that this file can
take up to five minutes to load.

Any way to turn this off?
 
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