569177 Quick project - Excel Find And Replace

I have some data in excel 2007 that I need to be search for multiple strings of characters in phrases and replace with a constant string of character (leaving the rest of the string the same). I can do this one at a time with Find and Replace but there isn't an easy way of searching for any of a list of 50 such phrases and replacing them with a constant phrase within the whole phrase that is in the cell. I think the way to do this is with VB. I need a routine that will facilitate this. It should also have the ability to exclude looking for characters for replacement in specific words that may appear in the phrase.