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Default Need formula to extract a numeric value from a free-format text

I have a column containing text values like "User requested authority of
emergency ID for reason NHUSER23 Restore of object to library LEVEL2
under remedy 1074317. 06/04/09 17:46 QPGMR".

Some of the cells contain a 7-digit number and others don't. The 7-digit
number does not start at a fixed location in the text.

Is it possible to write a formula which looks for the 7-digit number, and
returns the number if present, and another value (such as 0 or "*MISSING*")
if not?

I'm using Excel 2003.

Thanks.
 
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