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Default 2007 to 2003 functionality

I have excel 2007 and transferred a file to a user that only has 2003. When
trying save this in the 2003 format the compatibity checker gives me 42
formulas that have significant loss of functionality. All of the formulas
have the IFERROR function in them. Is there a fix for this problem? It
casuse all 42 of thes formulas to put the #name error in the field. One of
the formulas looks like this.
Did the IFERROR function even exist in 2003 version?


=IFERROR(HLOOKUP(F7,$D$36:$N$40,5,FALSE),"")
 
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