Try this:

Sub ReplaceHyperlinksInActiveWorkbook()
Dim oSheet As Object
Dim H As Hyperlink
Dim stFind As String
Dim stReplace As String
stFind = InputBox("What is the initial path to replace?", , "\\Old\")
If stFind = "" Then Exit Sub
stReplace = InputBox("What should the path become?", , "\\New\")
If stReplace = "" Then Exit Sub
For Each oSheet In ActiveWorkbook.Sheets
For Each H In oSheet.Hyperlinks
If InStr(H.Address, stFind) = 1 Then
H.Address = stReplace & Mid(H.Address, Len(stFind) + 1)
End If
Next
Next
End Sub


Bill Manville
MVP - Microsoft Excel, Oxford, England
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