if cell A value matches a value in Range B, return "TRUE" in cell C

[PUPIXCELLIUM]

The setup:

'Sheet1'!E1:E35 contains 3-letter codes;
'Sheet1'!L1:L35 contains blank cells that are ready for manual text entries (names);
'Sheet2'!H2:H10 contains a list of *special* 3-letter codes.

The desired result:

When a 3-letter code on 'Sheet1'!E1:E35 coincides with a *special* 3-letter code on 'Sheet2'!H2:H10, the corresponding blank cell on THAT SAME ROW on 'Sheet1'!L1:L35 gets special formatting.

I am relatively new to the 'higher' functions in excel, and I'm afraid this one is so far defeating me...

[hrlngrv]

Sheet1!L1: =COUNT(MATCH(E1,Sheet2!$H$4:$H$10,0))>0

If this is for cell values, fill L1 down into L2:L35. If instead this would be for conditional formatting, don't enter this in the Sheet1!L1:L35 cells, but select that range with the L1 cell the active cell, and use the formula above for the conditional formatting FORMULA condition.