Hi Mike,
Looks like the same question posted elsewhere and answered
by J.E. McGimpsey. If not my own choice would be to just let
the hyperlinks get generated -- I find them usually helpful --
and then eliminate the ones you don't want based on selection.
Use Ctrl+A to select entire sheet to eliminate all hyperlinks with
the macro. The macro I would use can be found at http://www.mvps.org/dmcritchie/excel/buildtoc.htm#DelHyperLinks
Sub DelHyperLinks()
Selection.Hyperlinks.Delete
End Sub