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Default A formula to look for a value in a blok (eg E1:J10) data

I am looking for a formula in Excel 2003 /2007 that wil search through a blok
of data (say C1: J10) for a value (could by alfa-nomeric) entered into a cel
(say A5) Thus look in C1 : J10 for the value entered in A5 and return true if
found or false if not. Alternatively perform "X" if true else "Y"
Thank You
 
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