Hi John,
I must have been doing something silly when I put that code together.
Target.PasteSpecial Paste:= xlPasteFormats does only paste the format
of A1 without pasting the value.
This means that the code need only be...

Private Sub Worksheet_Change(ByVal Target As Excel.Range)
With Application
.ScreenUpdating = False
.EnableEvents = False
End With
On Error GoTo ERRORHANDLER
Range("A1").Copy
Target.PasteSpecial Paste:=xlPasteFormats
Application.CutCopyMode = False
Exit Sub

ERRORHANDLER:
With Application
.EnableEvents = True
.CutCopyMode = False
End With
End Sub

Ken Johnson