I know from other messages that when you specify a link to another workbook
using Indirect this won't work unless the other workbook is open, otherwise
all the linked cells are replaced by #REF. When I open the workbook with the
links it asks the question whether I want to update the links, but behind
this dialogue box I can see all the correct values of the linked cells. The
problem is, even if I click No to updating the links, all the linked cells
still get replaced by #REF. I would have hoped that if you clicked No to
updating the links the spreadsheet would open with all these values
unchanged. Is there something I could alter in the worksheet to get this to
happen?

The problem became apparent when I sent the spreadsheet to someone else who
didn't have the linked spreadsheet and was unable to get the linked values
out.

I am using Excel 2000.

Grateful for advice.