Suggest using a macro like
where current path is in column A and new path in column B.
An easy way of getting the current paths is to go to windows explorer, select all the files in the folder, hold down the shift key, right click on any of the files, select copy as path and then paste into column A.
To add the code....
Open up the VBA editor by hitting ALT F11
Insert a new module by hitting Insert - Module
Paste the macro into the empty sheet
Hit ALT F11 to get back to the worksheet.
Run the macro by going to tools-macro in Excel 2003 or the view ribbon in Excel 2007/2010.
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