Formula to read a table and record answer from table in cell

Guys,

I'm new to excell and really stuck with this:

I have two cells (A1 and B1) which contain dropdown lists with various options. see lists below:


A1 -
Very Likely
Likely
Unlikely
Very Unlikely

B1 -
Extreme
Major
Moderate
Minor

What i want to do is have in cell C1 is a conditional answer. so for example if A1 is Very Likely and B1 Extreme, C1 will automatically record High Risk.

I have made a table/matrix which have all the possible outcomes for C1 - Which can be either - High Risk, Medium Risk, or Low Risk - depending on the answers in cells A1 and B1.

I need to create a function to work this all out for me and i guess it involves looking up the possible outcome on the table. I just don't know how to do this.

Can anyone help please?

Many thanks

Chuparfaan