Sharepoint List - Calculation using other lists

[KBFINN]

I am creating a Sharepoint list that contains several calculations. The calculations referencing columns within the list are working well. My question is, the Sharepoint help states that calculations can reference information within other lists. I want to be able to do a function link "VLOOKUP" in Excel, whereby I lookup a value in another list based on a value in the current row of my list. There does not seem to be any documentation on this.

Has anyone done this successfully?

Thanks for your help
Kathleen