<ISWebGrid:WebGridColumn Caption="Open" ColumnType="HyperLink" EditType="NoEdit"
HyperlinkDisplayText="Open" HyperlinkFormatString="javascript: doOpen()" 
HyperlinkTarget="Custom" Name="Open" Width="100px">
</ISWebGrid:WebGridColumn>

function doOpen()		
{
      var grid=ISGetObject("WebGrid1");
      if(grid.GetSelectedObject().ToRowObject().GetCells()[0].Text==1)
     {
         window.open("file:///C:/New Folder/handy.xls","anne","resizable=no,toolbar=no,scrollbars=no,menubar=no,status=no,directories=no");
     }else 
     {
         window.open("andrew.JPG","andrew","resizable=no,toolbar=no,scrollbars=no,menubar=no,status=no,directories=no");
     }
}

Hope this helps.

Regards,
Handy