What you are trying to achieve may be possible. First, in an empty workbook browse Excel's help for VLOOKUP function and work through the examples given so that you learn about this really useful function.

Next, open both workbooks and create a VLOOKUP formula in one workbook that links to the data in the second workbook. Save and close both workbooks then re-open the workbook containing the formula. Hopefully you won't receiving any error messages.

Good luck!!!