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Default Why is the formula displaying rather than the actual value?

I am concatenating (6) text string cells values into a single/summary cell
(H12) on Sheet1 -- then want to display this summary cell value on Sheet2.

I am using the formula ='sheet1'!H12 in the Sheet2 cell -- but the formula
is displaying rather than the actual value of the sheet1 H12 cell.

The formula works fine for me in other situations using numbers -- but am
having trouble displaying the values in this text situation. Am on Exel 2003.
 
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