What does an exclamation mark before a cell reference mean?

Question

In a text about Excel I have read the following:

=SUM(!B1:!K1)

when defining a name for a cell and this was entered into the Refers T

Answer 1

When entered as the reference of a Named range, it refers to range on the sheet the named range is used on.

For example, create a named range MyName refering to =SUM(!B1:!K1)

Place a formula on Sheet1 =MyName. This will sum Sheet1!B1:K1

Now place the same formula (=MyName) on Sheet2. That formula will sum Sheet2!B1:K1

Note: (as pnuts commented) this and the regular SheetName!B1:K1 format are relative, so reference different cells as the =MyName formula is entered into different cells.