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I use:

retVal = Shell("program.EXE " & filename, vbNormalFocus)

To execute a program need for my excel spreadsheet.

Is it possible to embed the EXE file in the excel file itself?

And how would I execute it then?

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Why not create a hyperlink to the exe file? – Sandeep Bansal Nov 28 '11 at 11:25
@ Sandeep Keep it all in one simple xls file – Diga Nov 28 '11 at 12:12
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that sounds like a potential massive security risk, were it possible – Journeyman Geek Nov 28 '11 at 12:42
I think it is always possible (maybe not easy), somekind of bin2str function and the oposite should do the trick – Diga Nov 28 '11 at 12:46
@JourneymanGeek: if the Excel file can run the Shell command, security has already been compromised. Being able to write a file isn't really an issue at that point. – Harry Johnston Nov 29 '11 at 1:36
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