The Export to Microsoft Excel context menu option in Internet Explorer helps you export tabular data in a Web page to Microsoft Excel. If for some reason the Export to Microsoft Excel option is not added after installing Microsoft Office 2003/2007, you can restore it back manually.
Add "Export to Microsoft Excel" command to the Context menu
Launch Regedit.exe and navigate to:
Create a subkey and name it as Export to Microsoft Excel
Double-click (default) and set its Value data as follows:
For Excel 2003
For Excel 2007
Exit the Registry Editor.
REG Files
To automate the above setting, download exporttoexcel.zip and save to Desktop. Unzip and run the appropriate REG file (exporttoexcel07.reg or exporttoexcel03.reg) for the version of Microsoft Excel installed. To remove the option, run the file undo.reg.
Usage
Open Internet Explorer and browse a Web page containing tabular data. Right-click on the data and choose Export to Microsoft Excel. Select one or more tables by clicking the arrows corresponding to each table.


For more information, see Microsoft Office Online article Getting data from the Web in Excel.
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Just to let you know, your above reg key will also work with Microsoft Office 2010 Beta that I am using. All I had to do was change the OFFICE12 to OFFICE14. The key that Microsoft has in there does not work. I submitted a bug report to them.
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