I am creating several documents from one main source document in excel
2003.  

The match and offset fomula created are working fine, but will only
show the values when the source document is open.  When you select
update without the source open they all revert to #VALUE!

Why is this happening and how can I get round this problem? 3
individuals need their own work sheets with the data being provided
from this source document.  

Any assistance would be gratefully received.

Thanks
Annabel