Using INDIRECT with named ranges

Hello all,

I have a named range called List_To_Show, defined as =INDIRECT("List_"&List_Sel). List_Sel is either "1" or "2". The named ranges "List_1" and "List_2" are static.

If I use List_To_Show in an INDEX function as follows, the function works: =INDEX(List_To_Show,2,2). However, if I try to use it in an index function in conjunction with INDIRECT, it fails: =INDEX(INDIRECT("List_"&"To_Show"),2,2). As far as I can tell, the two should produce exactly the same result. Can anyone explain why the second one fails?

For reference, I have attached the spreadsheet I'm using. It needs to work in Excel 2003 and later versions. Thanks in advance for your help!


BTW, I realize this issue may seem trivial. I created this simple example to illustrate a problem I'm having with a much more complicated spreadsheet.