--- poi-3.5-beta6/src/java/org/apache/poi/hssf/record/HyperlinkRecord.java 2009-06-01 21:35:02.000000000 -0400 +++ poi-3.5-beta6/src/java/org/apache/poi/hssf/record/HyperlinkRecord.java 2009-07-08 10:07:11.671875000 -0400 @@ -447,7 +447,7 @@ if(URL_MONIKER.equals(_moniker)){ int fieldSize = in.readInt(); - if ((_linkOpts & HLINK_TARGET_FRAME) != 0) { + if ((_linkOpts & HLINK_TARGET_FRAME) == 0) { int nChars = fieldSize/2; _address = in.readUnicodeLEString(nChars); } else {