This is not a complete solution but it looks to be a step towards the solution.
The two strings are both 28 characters long which suggests a one-to-one encoding.
Displaying the two string in hexadecimal gives:
(E3)(E5)(E7)(20)(EC)(F7)(E5)(E7)(E5)(FA)(20)(E4)(E5)(E3)(F2)(E5)(FA)(20)(E5)(E9)(EE)(E9)(20)(E4)(E5)(EC)(E3)(FA)
(5D3)(5D5)(5D7)(20)(5DC)(5E7)(5D5)(5D7)(5D5)(5EA)(20)(5D4)(5D5)(5D3)(5E2)(5D5)(5EA)(20)(5D5)(5D9)(5DE)(5D9)(20)(5D4)(5D5)(5DC)(5D3)(5EA)
The second line is mainly the Unicode values for Hebrew letters as expected.
The conversion to get the first row appears to be:
20 (space) unchanged
5Dx Ex
5Ex Fx
This is not a complete conversion chart because the Unicode values for the Hebrew letters extend from hexadecimal 591 to 5F4.
The following crude routine accepts the first string and returns the second.
Function Decode(CompactStg As String) As String
Dim CompactChar As Integer
Dim DecodedChar As Integer
Dim DecodedStg As String
Dim Pos As Integer
DecodedStg = ""
For Pos = 1 To Len(CompactStg)
CompactChar = Asc(Mid(CompactStg, Pos, 1))
Select Case CompactChar
Case 32 To 127 ' Hex 20 - 7F
' No change
DecodedChar = CompactChar
Case 224 To 239 ' Hex E0 - EF
' Convert EX to 5DX
DecodedChar = CompactChar + 1264
Case 240 To 255 ' Hex F0 - FF
' Convert FX to 5EX
DecodedChar = CompactChar + 1264
End Select
DecodedStg = DecodedStg & ChrW(DecodedChar)
Next
Decode = DecodedStg
End Function
I used the following routine to output the strings to the immediate window. With a few more examples you will be able to determine all the conversions. Hebrew letters hexadecimal 591 to 5C7 may also be converted by adding decimal 1264 but this cannot be the conversion for Hebrew letters 5F0 to 5F4.
Sub HexOut(Stg)
Dim Pos
For Pos = 1 To Len(Stg)
Debug.Print "(" & Hex(AscW(Mid(Stg, Pos, 1))) & ")";
Next
Debug.Print
End Sub
Have fun!