Linked file #REF error in 2007, not in 2003

[astolt]

I receive many files by email that contain links. If I open a file in 2003 and click on don't update links, the values show up. When I do the same in 2007 the linked cells show up as #REF.

I have turned off all automatic links, data connections, macros, etc. and I still get the reference error.

Please help me open the file in 2007 and see the values.

Thanks.