Antz
Are using using Groupwise?
If that's the problem. See this MSKB article
http://support.microsoft.com/default.aspx?scid=kb;en-us;260199
Article is specific for 2000 but I think it is valid for other versions.
It gives a workaround (use the file menu) and instructions as to how to remove
the Groupwise add-in that is responsible for this behavior.
Gord Dibben Excel MVP