|What version of Excel are you using?|
However I did get the message we have made 12 replacements but not even one "CITY" was changed to "city."
What words were changed?
When I tried to replace "CITY" with another word in lowercase, it replaced the different word but in Uppercase.
Again, what words were changed?
Also, using Find & Replace, can be a bit tricky as it will replace all instances of city even if they are part of a longer word, like cityscape or ethnicity or publicity.
Additionally, Find & Replace is case insensitive, so if your word is CITY
and you want to replace it with town < lower case > then simply doing a Find & Replace with the word city in lower case will also replace city found in Upper Case.