The effects of exercise on subsequent psychophysiological responses to mental stress were assessed in a study of 30 normotensive male volunteers. Participants were randomly allocated to three experimental conditions--20-min exercise at 100 Watts (high exercise), 20-min exercise at 25 Watts (low exercise), or 20-min no exercise (control). After a recovery period of 20 min, all subjects performed a mental arithmetic task for four 5-min trials. Blood pressure and heart rate were monitored continuously using a Finapres, and respiration and electrodermal activity were also recorded. Baroreceptor reflex control of heart rate was assessed using power spectrum analysis. Exercise produced consistent increases in systolic blood pressure, heart rate, and subjective tension, together with reductions in systemic resistance and baroreflex sensitivity. The systolic and diastolic blood pressure and heart rate reactions to mental arithmetic were significantly blunted in the high exercise compared with control conditions, with the low exercise group showing an intermediate pattern. Subjective responses to mental stress were unaffected by prior exercise. The pattern of hemodynamic response was not a result of changes in baroreflex sensitivity. The mechanisms underlying this result are discussed in relation to the discrepancies between subjective and physiological responses to mental stress, and the implications for the use of exercise in stress management.