Workbook with external links shows REF! error in 2007 not in 2003



I have a workbook that was created in Excel 2003. It has multiple links to
external data sources that are not available to all users. When the workbook
is opened in Excel 2003 and the user Selects "Do not Update", they can see
the last values in the workbook. When this same workbook is opened in Excel
2007, the linked cells give REF! errors. How do I get the file to open
correctly in 2007 and show the last data values instead of the REF! error?



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