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Default Formatting help required...

I am working on Excell 2003 and I have applied a format to a cell, I can see
the formatting in the formula cell but when I hit return the cell will not
update to the format applied.
ie. Formatting for a date, I have applied the format to the cell and the
formula toolbar shows the information in the correct format say 02/05/2007
but when I press return the cell shows 39203 while the formula toolbar is
still showing 02/05/2007.
Can anyone help with the above error as it is part the excel shet is part of
a report that I need to issue.
John
 
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