Purpose: The Purpose of this study was to develop an exercise program for elder people, and to verify the effects of it. Method: A one-group pretest-posttest experimental design was used. The exercise program was developed by researchers, and applied to 20 elders for 3 times a week for 5 weeks. To evaluate the treatment effects, dependent variables such as subjective health status, cognitive function, ADL, IADL, and depression were measured repeatedly 7 times. One-way Repeated Measures ANOVA was used for analysis. Result: There were significant positive changes in subjective health status, cognitive function, ADL, and depression except IADL during the treatment period. The treatment effects decreased significantly during 1-3 weeks after the treatment period. Conclusion: The exercise program, which had developed by the researchers, enhancing subjective health status, cognitive function, and ADL and decreasing depression of elders. Therefore this program is strongly recommended for geriatric nursing care settings.