Hi,
the answer is version dependent:
2003:
Cells can contain 1024 characters in a formula
Cells can contain 32,767 text characters but only the first 1023 will be
visible (unless you use Alt Enter to force line breaks)
2007:
Cells can contain 8192 characters in formulas
Cells can contain 32,767 text characters in cells and all can be seen and
printed without needing to use Alt Enter.
If this helps, please click the Yes button,
Cheers,
Shane Devenshire