Abstract: The exercise device has a horizontal section for walking/hiking purposes as well as a climbing section to simulate a mountain climbing exercise. The climbing section has an endless belt of interconnected panels, each of which is provided with a plurality of blocks to provide hand/foot holds. The blocks are movable from a retracted position to extended positions by electromagnets which are programmed to effect actuation of one or more of the blocks in a predetermined pattern. The blocks are retracted at the end of the curvilinear run of the endless belt to avoid obstruction with the continued movement of the endless belt.