Below is the C# source code to do this with SpreadsheetGear for .NET. Since the SpreadsheetGear API is similar to Excel's API, you should be able to easily adapt this code to Excel's API to get the same result.
You can download a free trial here if you want to try it yourself.
Disclaimer: I own SpreadsheetGear LLC
using System;
using SpreadsheetGear;
namespace Program
{
class Program
{
static void Main(string[] args)
{
// Create a new workbook and get a reference to A1.
IWorkbook workbook = Factory.GetWorkbook();
IWorksheet worksheet = workbook.Worksheets[0];
IRange a1 = worksheet.Cells["A1"];
// Format A1 as Text using the "@" format so that the text
// will not be converted to a number, and put the text in A1.
a1.NumberFormat = "@";
a1.Value = "89234010000725515875";
// Show that the formatted value is
Console.WriteLine("FormattedValue={0}, Raw Value={1}", a1.Text, a1.Value);
// Save the workbook.
workbook.SaveAs(@"c:\tmp\Text.xls", FileFormat.Excel8);
workbook.SaveAs(@"c:\tmp\Text.xlsx", FileFormat.OpenXMLWorkbook);
}
}
}