IF,
Hopefully you have resolved your problem by now. If not, you should be able to simply use Pardox 4.5 Tools Export function to create a file in Lotus 123 format. Excel has no problem reading in this format.
In Paradox use the Tools, Export/Import, 123, (2) 1-2-3 Relase 2.
You will be asked for database name and the name of the output file. A .wk1 file will be generated.
In excel, select open file, type in your file name and select "Lotus 1-2-3 files" as your file type.
Hope this helps. (FYI, this also works very well in reverse.)
cgeist