Hi Steve,
if there is no other bold text, then

Sub Makro3()
Dim rDcm As Range
Set rDcm = ActiveDocument.Range
ResetSearch
With rDcm.Find
.Font.Bold = True
.Replacement.Text = "^&@" '!
.MatchWildcards = True
.Execute Replace:=wdReplaceAll
End With
ResetSearch
End Sub

Sub ResetSearch()
With Selection.Find
.ClearFormatting
.Replacement.ClearFormatting
.Text = ""
.Replacement.Text = ""
.Forward = True
.Wrap = wdFindContinue
.Format = False
.MatchCase = False
.MatchWholeWord = False
.MatchWildcards = False
.MatchSoundsLike = False
.MatchAllWordForms = False
.Execute
End With
End Sub

Greetings from Bavaria, Germany
Helmut Weber, MVP WordVBA
"red.sys" & chr(64) & "t-online.de"
Word 2002, Windows 2000