formula to set font color based on value in other cell

Hi - I need a formula that looks at a value within a column, and based on the content of that cell set the font color of a value in another cell. so example, I have a list of names in column A, name1, name2, name3. If any of the names = John Doe, then I want cell B1 to be formatted to display in bold red text, so whatever value is put in B1 would display in bold red.

please advise? thanks

You want conditional formatting.

Select B1
Alt + o, d (keyboard shortcut as I don't know xl07 GUI)
formula is <=A1="John Doe"> (remove carets)
Set font colour to red and font bold
OK

HTH