Hyperlink addresses can be saved as relative to some path (the path of
the workbook by default, or the workbook's "hyperlink base") or as
absolute addresses.

If you move the workbook then the relative hyperlinks no longer work.

For that reason I suggest setting a hyperlink base which does not
exist. This will force all hyperlink addresses to be absolute.

In Excel 2003 and earlier
File Properties Summary Hyperlink Base


Bill Manville
MVP - Microsoft Excel, Oxford, England
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