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Default Excel 2007 very slow to save files and cannot exit

When I save certain workbooks (in compatibility mode) the save function runs
for 20 minutes at full CPU utilization. When it finally completes, the usual
buttons at top right of the window are gone. Also the open and exit
functions are diabled. Exit can only be achieve by killing the task through
task manager. At other times the problem does not occur.
Makes it very hard to upgrade from Excel 2002.
 
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