Abstract: An exercise apparatus includes a frame assembly, a flywheel unit mounted rotatably on the frame assembly, a manually operated driving unit for driving rotatably the flywheel unit, and a magnet-type resistance generator to provide resistance to rotation of the flywheel unit. The resistance generator includes a central shaft mounted on the frame assembly and formed with an intermediate worm section, and a rotary plate mounted rotatably on the central shaft on one side of the worm section and driven rotatably by the flywheel unit. The rotary plate has a circular plate portion and a peripheral ring which extends from a front side of the circular plate portion. A movable slide seat is mounted movably on the central shaft and is provided with a worm shaft unit which meshes with the worm section. The slide seat has an outer periphery which is provided with a plurality of angularly spaced magnets that are disposed adjacent to the peripheral ring of the rotary plate.