Someone at the newsgroup asked this question. This is the VBScript that I wrote to accomplish this.

Dim objExcel

Set objExcel = WScript.CreateObject("Excel.Application")



objExcel.Visible = TRUE

objExcel.Workbooks.Open "C:\\bintest.xls"

objExcel.Workbooks(1).Activate

objExcel.Workbooks(1).Worksheets(1).Range("A1").Select



Dim sLinkAddress

sLinkAddress = "http://www.google.com"



objExcel.Workbooks(1).Worksheets(1).Hyperlinks.Add _

    objExcel.Selection, sLinkAddress

objExcel.Workbooks(1).SaveAs "C:\\bintest.xls"

objExcel.Quit



set objExcel = nothing