VBA protection and 'save as'
 

I have a spreadsheet that is setup to prevent users from
viewing the macro code via the VBA properties. When the
users does a 'save as' they get the message "You cannot
save to this file format when the VBA project is
protected." The spreadsheet itself is also protected to
require a password to open.

I have tried recreating the spreadsheet and saving as
Excel 97-2000 as suggested from another site but the
message still appears.

Thanks for any suggestions,

Mark.