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Default Select range from unopened workbook

I'm trying to take data from an unopened workbook. I copied the
following code directly from my "Excel 2003 VBA" book.

range("A12") =
Workbooks("BILLRATE.xls").Worksheets("BILLRATE").C ells(1,
1).range("A1")

I get a "subscript out of range error on this. The workbook
"BILLRATE" is in the working folder. And I can call it if I use
Workbooks("BILLRATE.xls").Open. But when I try to access the range, I
get the subscript out of range error.

Any ideas?
thanks
 
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