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Default Center text in a shape textframe

I need to center text in an autoshape oval's text frame. It works fine in
Excel 2007 by using the text frame and inserting a single letter as a
character with no additional instructions. However, after loading it at work
in Excel 2003 the character is barely visible in the lower left hand corner
of the oval. I inserted the horizontalallingment to center horizontally but
I can't get the verticalalignment to work. Any suggestions?

Thaks
 
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