Abstract: The combined air exchange and air conditioning unit is used for conditioning air from a conditioned space. The unit comprises an exhaust air chamber, a return air chamber, a supply air chamber, and a fresh air chamber. A supply blower is used for drawing air from inside the supply air chamber to the outside and an exhaust blower is used for drawing air from inside the exhaust air chamber. A central plate damper is provided for regulating air transfers between the chambers. The damper plate is movable within a position range defined between two extreme positions, the first position allowing a connection of the return air chamber with the supply air chamber and a connection of the fresh air chamber with the exhaust air chamber, the second extreme position allowing a connection of the return air chamber with the exhaust air chamber and a connection of the fresh air chamber with the supply air chamber.