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Default Text in Conditional formatting

Hi,

I want to use conditional formatting to highlight a cell where i put in a
specific word.

eg: if I type in the word 'required. the cell changes to red etc... when the
cell is blank I dont want the cell to do anything.. only when I type in a
'word' and that word has to be letter perfect.. ie... req and it wont change
the cell colour... it will only change when i type in the word exactly ie
'required'

thanks
 
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