Excel 2007 : Conditional Macro Commands- Project for Manager

I work at an advisory firm and they want me to create a generic template for letters to send to clients. The information they will receive is based on laws/regulations

Is it possible to create a drop down box with various options that when selected will display different paragraphs? It also needs to print quite nicely.

The laws and regulations only apply to certain companies I was thinking that I could create a template that has a few drop down boxes, select the various characteristics of the company (small/large/foreign etc) and have it spit out paragraphs that I prepare earlier