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Default xl2007 password to open

In Excel 2007 I can password protect a file via Office Button Prepare
Encrypt Document or via Save As dialog box Tools General Options.
Disregarding the password to modify option, my question is, whats the
difference between the two password to open options? In other words, does
the Save As password option do the same encryption as the Office Button
option?
Bob Phillips 4/9/2007 answer to a slightly different question seems to say
theres no difference. Can anyone confirm this?
Many thanks.

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