Its a sneaky trick! Its not the lookup you have in the attached document; its part of another lookup. I'm not near an application right now so I can't recall the name off hand, but its one of the few DEPENDANT LISTS lookups, and the trick is that its in the lower levels (the sub-lookups) of that lookup. So open up the admin tool, go to lookups, search for dependant-list lookups and its the one with the "Investment" name - open that lookup and you'll find it contains some other lookups! The "Investment Stage" is one of those! (If you don't follow what I mean, I'll post the explicit names after the weekend...)