How to properly display special characters in excel 2003 file

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I have an excel 2003 spreadsheet contining special characters like á, é, í, ó, ú, ü, ñ. The problem is that they are displayed with their HTML entity codes.

So instead of

Almócita

Gádor

I see

Almócita

Gádor

and so on.

How can i save/re-encode the file so that is displays properly the special characters?

CSV/Open Office/Excel file formats are all acceptable as long as the characters are properly displayed.

UPDATE: The excel file is uploaded for reference HERE

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Ok, so after a lot of searching and considering options like importing the sheet in MySQL and fixing the values via PHP, I finally decided to do it the old fashioned dummy like way - I made a filter to show only cells that contain & and then via Find/Replace I replaced all HTML entity codes with their respective characters. The whole operation took about 15 min, which is noting compared to the time I spent searching for alternative soluton.