Text not visible in cell only in Formula Bar (excel 2003)

I have opened my spreadsheet just now and checked that some text was missing. I clicked on the cell and found the text shows in the formula bar but not in cell. I then reformatted the cell and then changed font color to black, changed cell color but nothing worked. I then retyped info into cell and it showed until I left the cell than disappeard. I clicked again on cell and saw tect in the formula bar but it is not visible in cell? Can anyone please help.

I am having the exact same issue in Excel 2003. It's happening in cells with text longer than 16 lines. Nothing beyond my 16th line will appear in the speadsheet regardless of how large I make the cell lengthwise or vertically. The text appears intact in the formula bar. Cuting and pasting the text into other cells or applications make no difference. When its pasted back into any cell in the spreadsheet those lines of text disappear.