Osteoporosis and osteoarthritis are two distinctly different rheumatic conditions that target elderly, primarily female, populations. This article examines the scientific evidence supporting the use of exercise as a specific therapeutic modality, the general physiologic and psychological benefits of exercise, and the exercise programs currently recommended to combat these prevalent musculoskeletal disorders. Exercise is a valuable adjunct to treatment programs aimed at alleviating the risks and symptoms of osteoporosis and osteoarthritis. In addition to its potential impact on the disease processes themselves, exercise improves general health and well being, enhances quality of life, and preserves physical independence.