diff --git a/CHANGELOG.md b/CHANGELOG.md
index c22d5bca..afc5716d 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -22,6 +22,7 @@ and this project adheres to [Semantic Versioning](http://semver.org/).
 - Xlsx reader do not read rows and columns filtered out in readFilter at all - [#370](https://github.com/PHPOffice/PhpSpreadsheet/issues/370)
 - Make newer Excel versions properly recalculate formulas on document open - [#456](https://github.com/PHPOffice/PhpSpreadsheet/issues/456)
 - `Coordinate::extractAllCellReferencesInRange()` throws an exception for an invalid range – [#519](https://github.com/PHPOffice/PhpSpreadsheet/issues/519)
+- Fixed parsing of conditionals in COUNTIF functions - [#526](https://github.com/PHPOffice/PhpSpreadsheet/issues/526)
 
 ## [1.2.1] - 2018-04-10
 
diff --git a/src/PhpSpreadsheet/Calculation/Functions.php b/src/PhpSpreadsheet/Calculation/Functions.php
index b6389a8d..bf11ceaf 100644
--- a/src/PhpSpreadsheet/Calculation/Functions.php
+++ b/src/PhpSpreadsheet/Calculation/Functions.php
@@ -277,7 +277,7 @@ class Functions
 
             return '=' . $condition;
         }
-        preg_match('/([<>=]+)(.*)/', $condition, $matches);
+        preg_match('/(=|<[>=]?|>=?)(.*)/', $condition, $matches);
         list(, $operator, $operand) = $matches;
 
         if (!is_numeric($operand)) {
diff --git a/tests/PhpSpreadsheetTests/Calculation/FunctionsTest.php b/tests/PhpSpreadsheetTests/Calculation/FunctionsTest.php
index ed85e80c..1255d910 100644
--- a/tests/PhpSpreadsheetTests/Calculation/FunctionsTest.php
+++ b/tests/PhpSpreadsheetTests/Calculation/FunctionsTest.php
@@ -307,4 +307,20 @@ class FunctionsTest extends TestCase
     {
         return require 'data/Calculation/Functions/ISFORMULA.php';
     }
+
+    /**
+     * @dataProvider providerIfCondition
+     *
+     * @param mixed $expectedResult
+     */
+    public function testIfCondition($expectedResult, ...$args)
+    {
+        $result = Functions::ifCondition(...$args);
+        self::assertEquals($expectedResult, $result);
+    }
+
+    public function providerIfCondition()
+    {
+        return require 'data/Calculation/Functions/IF_CONDITION.php';
+    }
 }
diff --git a/tests/data/Calculation/Functions/IF_CONDITION.php b/tests/data/Calculation/Functions/IF_CONDITION.php
new file mode 100644
index 00000000..0b510ed9
--- /dev/null
+++ b/tests/data/Calculation/Functions/IF_CONDITION.php
@@ -0,0 +1,36 @@
+<?php
+
+return [
+    [
+        '<"A"',
+        '<A',
+    ],
+    [
+        '>"A"',
+        '>A',
+    ],
+    [
+        '<="A"',
+        '<=A',
+    ],
+    [
+        '>"A"',
+        '>A',
+    ],
+    [
+        '>="A"',
+        '>=A',
+    ],
+    [
+        '<>"A"',
+        '<>A',
+    ],
+    [
+        '<"<A"',
+        '<<A',
+    ],
+    [
+        '<>"< PLEASE SELECT >"',
+        '<>< Please Select >',
+    ],
+];