Index: src/java/org/apache/poi/hssf/usermodel/HSSFSheet.java
===================================================================
--- src/java/org/apache/poi/hssf/usermodel/HSSFSheet.java	(revision 694253)
+++ src/java/org/apache/poi/hssf/usermodel/HSSFSheet.java	(working copy)
@@ -44,6 +44,7 @@
 import org.apache.poi.hssf.record.WindowTwoRecord;
 import org.apache.poi.hssf.record.aggregates.DataValidityTable;
 import org.apache.poi.hssf.record.formula.Ptg;
+import org.apache.poi.hssf.record.formula.AreaPtg;
 import org.apache.poi.hssf.record.formula.RefPtg;
 import org.apache.poi.hssf.util.CellRangeAddress;
 import org.apache.poi.hssf.util.PaneInformation;
@@ -1282,6 +1283,7 @@
                     Ptg[] ptgs = FormulaParser.parse(c.getCellFormula(), workbook);
                     boolean changed = false;
                     for(int i=0; i<ptgs.length; i++) {
+                    	// single reference, like A1
                         if(ptgs[i] instanceof RefPtg) {
                             RefPtg rptg = (RefPtg)ptgs[i];
                             if(startRow <= rptg.getRowAsInt() &&
@@ -1291,6 +1293,23 @@
                                 changed = true;
                             }
                         }
+                        // area refence, like A1:A4
+                        if(ptgs[i] instanceof AreaPtg) {
+                            AreaPtg aptg = (AreaPtg)ptgs[i];
+                            if(startRow <= aptg.getFirstRow() &&
+                                    aptg.getFirstRow() <= endRow) {
+                                // First row of area references a row that moved
+                                aptg.setFirstRow(aptg.getFirstRow() + n);
+                                changed = true;
+                            }
+                            if(startRow <= aptg.getLastRow() &&
+                                    aptg.getLastRow() <= endRow) {
+                                // Last row of area references a row that moved
+                                aptg.setLastRow(aptg.getLastRow() + n);
+                                changed = true;
+                            }
+                        }
+
                     }
                     // If any references were changed, then
                     //  re-create the formula string