Displaying the one with the highest "priority" among all matched instances

(Pardon my poor English)

Say, I got the following data:
Col 1

Col 2

A

S839

B

S323

B

B092

C

K293

B

G201

C

S323

And say, the strings in column 2 have the following priorities:
(highest)
1 - S839
2 - B092
3 - S323
4 - G201
5 - K293
(lowest)

Now what I want is to get the string with the highest priority from column 2, while at the same time, matching a certain value in column 1.
(e.g. in another spreadsheet)
Col 1

Col 2

B

B092

C

S323

Any idea??
Thanks in advance.

Formula goes like that
=INDEX($G$1:$G$5,SMALL(IFERROR(MATCH(IF(J1=$A$1:$A$6,$B$1:$B$6),$G$1:$G$5,0),999),1))
Array formula

Attached the file. You will understand clearly then. Desired outcomes are in yellow cells

Originally Posted by eisayew

Formula goes like that
=INDEX($G$1:$G$5,SMALL(IFERROR(MATCH(IF(J1=$A$1:$A$6,$B$1:$B$6),$G$1:$G$5,0),999),1))
Array formula

Attached the file. You will understand clearly then. Desired outcomes are in yellow cells

Thank you so much for the reply.
But would you mind saving the excel file in 2003 format?

Originally Posted by dyuk

Thank you so much for the reply.
But would you mind saving the excel file in 2003 format?

There is IFERROR formula which excel 2003 does not recognize it. You can replace iferror with =IF(ISERROR(),"FORMULA if TRUE","Formula if FALSE")

Formula for Excel 2003 most probably will be like that
=INDEX($G$1:$G$5,SMALL(IF(ISERROR(MATCH(IF(J1=$A$1:$A$6,$B$1:$B$6),$G$1:$G$5,0)),999,MATCH(IF(J1=$A$1:$A$6,$B$1:$B$6),$G$1:$G$5,0)),1))

Originally Posted by eisayew

Formula for Excel 2003 most probably will be like that
=INDEX($G$1:$G$5,SMALL(IF(ISERROR(MATCH(IF(J1=$A$1:$A$6,$B$1:$B$6),$G$1:$G$5,0)),999,MATCH(IF(J1=$A$1:$A$6,$B$1:$B$6),$G$1:$G$5,0)),1))

It works perfectly! Thank you so much.