Exhange links manually is too much work. I strongly recommend Swapware to exchange links automatically.
Unlike other link exchange softwares, link pages created by Swapware are static. - The advantage of static pages is that link partners generally will not trade link with dynamic page because most dynamic pages are not spider by search engines. Thus, making these links useless.
With a single click, a static link directory is built. The directory is rebuilt every time a link client submit a webpage.
Check out Swapware at http://www.bookfinder.us
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