diff --git a/Classes/PHPExcel/Reader/Excel2007.php b/Classes/PHPExcel/Reader/Excel2007.php
index 79e9fbb..95fedff 100644
--- a/Classes/PHPExcel/Reader/Excel2007.php
+++ b/Classes/PHPExcel/Reader/Excel2007.php
@@ -1278,7 +1278,11 @@ class PHPExcel_Reader_Excel2007 implements PHPExcel_Reader_IReader
 									// Extract range
 									$extractedRange = (string)$definedName;
 									$extractedRange = preg_replace('/\'(\w+)\'\!/', '', $extractedRange);
-									$extractedRange = str_replace('$', '', $extractedRange);
+									if (($spos = strpos($extractedRange,'!')) !== false) {
+										$extractedRange = substr($extractedRange,0,$spos).str_replace('$', '', substr($extractedRange,$spos));
+									} else {
+										$extractedRange = str_replace('$', '', $extractedRange);
+									}
 
 									// Valid range?
 									if (stripos((string)$definedName, '#REF!') !== false || $extractedRange == '') {
diff --git a/changelog.txt b/changelog.txt
index a66e02c..d25bbc6 100644
--- a/changelog.txt
+++ b/changelog.txt
@@ -43,6 +43,7 @@ Fixed in SVN:
 - Bugfix:   (MBaker) Workitem 14236 - problem with getting cell values from another worksheet... (if cell doesn't exist)
 - Bugfix:   (MBaker) Workitems 14260 & 14233 - Setting cell values to one char strings & Trouble reading one character string (thanks gorfou)
 - Bugfix:   (MBaker) Workitem 14256 - Worksheet title exception when duplicate worksheet is being renamed but exceeds the 31 character limit
+- Bugfix:   (MBaker) Workitem 14086 - Named range with sheet name that contains the $ throws exception when getting the cell
 
 
 2010-08-26 (v1.7.4):