Abstract: The hand manipulated exercise device comprises first and second hollow tubes which have hand grippable outer surfaces. The second hollow tube is telescopically received in the first hollow tube and the tubes are held together by a coupling mechanism. The coupling mechanism permits relative rotation of the two hollow tubes against two axially facing frictional surfaces within the tubes. The coupling mechanism includes a pressure applying mechanism situated within the first tube, which urges the axially facing frictional surfaces toward each other. The pressure applying mechanism rotates with the first hollow tube to minimize wear on components of the pressure applying mechanism. A special indicating wrench is also provided which is received over a nut of the pressure applying mechanism in the first tube for adjusting the amount of pressure exerted on the frictional surfaces and for indicating the amount of pressure being applied.