You can do that by opening the Drawing toolbar if your version of Excel is
2003 or less. Then select the oval tool and circle the cell you want to draw
attention to.
If you're using 2007 click INSERT on the ribbon and then click Shapes. In
the BASIC SHAPES category locate the oval tool and then circle the cell.
You'll have to format the drawing object so that it's transparent so you can
view the cell contents.
If you need a perfect circle hold down a shift key and then draw your oval.
The shift key will force the oval to a perfect circle.
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