Excel shortcut

I have an Excel 2003 application that I use.
The problem is that I cant create a shortcut to the
excel file that works.The preferences for the shortcut looks
like this.

Target:
"L:\Del\Prod\PR\2009\ML.xls"

Start in:
L:\Del\Prod\PR\2009

Everything works if I first starts Excel and then the ML.xls file.
But the shortcut doesn't work.

Error message:

Workbooks.Open FileName:="Regpgm.xls" ', ReadOnly:=True

Any solution?

Greatest Regards
Motala