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Offset

To be honest: Offset is not exactly an obsolete function. It is fast, it is easy to use - but: it's volatile. This means Offset will be recalculated each time you press F9. This is the reason I suggest to use Index instead. There are some exceptions, though:
a) If the calculation time is neglectable you might prefer Offset
b) If your formula or your environment (name or named range) is volatile anyway, you can as well use Offset

20091024_PB_01_Offset

A more general example is shown below:

Please notice that you can also apply negative row offsets or column offsets. With Index you will then need to use a lower row number or a column to the left and corresponding add-ons to the indices. The example below allows negative row/column offset of down to -4.

20091024_PB_02_Offset
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