When you save a presentation in Microsoft PowerPoint 3.0 or 4.0 format and
then reopen the presentation, the slide image in Notes Master view appears in its default position and size.
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When you save a file to Microsoft PowerPoint 3.0 or 4.0 format, PowerPoint
97 for Windows does not save any custom positioning information for the slide image that you will see in Notes Master view. Therefore, when you open the presentation, the default position settings are restored.
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We are researching this problem and will post new information here in the
Microsoft Knowledge Base as it becomes available.
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