Excel can escalate in size dramatically. A couple of things to check
1) Did you at any point, possibly an import, have much more data than you
ended up with? In which case press Ctrl+End to see what row/column excel
think is the last one, select those excess rows, delete them and save the
workbook. (Do this for each sheet)
2) Do you have images/charts, etc in abundance, these will certainly 'bloat'
excel?
3) Have you saved the workbook in a 'hybrid' format (Excel 5/95 & 1997)?
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HTH
Nick Hodge
Microsoft MVP - Excel
Southampton, England
www.nickhodge.co.uk
(e-mail address removed)