Sorry, Larry, but I am not quite following you.
Please could you clarify:
- which version of Excel
- whether source and destination workbooks are open, or only
destination
- what is the calculation mode
- what is the formula containing the link
- what value is it showing
- what value is in the cell you expect to be referenced by the link.

Bill Manville
MVP - Microsoft Excel, Oxford, England
No email replies please - respond to newsgroup