Changing opacity question

i have run into a problem; what i want to do is to change to opacity of a sprite depending on how close it is to another sprite but i can figure out a simple way to do it.

basically, i want a sprite to become more visible as the player gets closer and less visible as the player moves away, in a nice and clean way =)

thanks!

Here's my suggestion, hope it helps:

Link: DistanceOpcaity.capx

awesome, thanks!