Generally, both folder and file names should be composed of alphanumeric characters. Many of the non-alphanumeric characters may cause problems when Excel tries to parse a path and a file name. Some non-alphanumeric characters, such as exclamation points (!), are used by Excel as part of the path within a hyperlink. For example, a hyperlink from one file to another file that is in a cell might look similar to the following hyperlink:
C:\My Documents\Excelfolder\[BOOK1.XLS]SHEET1!$A$1
In this example, Excel cannot locate a file that has an exclamation point as part of the file name, the sheet name, or the path name.
If you receive one of the error messages that are mentioned in the "Symptoms" section, you may want to view the URL path name together with the file name, and remove any non-alphanumeric characters from the URL path name. Then, test to see if you can correctly create the hyperlink. Additionally, you may want to consider the length of the path name and the file name because the length of a path string in a hyperlink may also affect its functionality.
For more information about the limitations for path and file names in Office programs, click the following article number to view the article in the Microsoft Knowledge Base:
325573�
You receive error messages when you try to open an Office document