The purpose of this investigation was to compare the effects of brief treadmill exercise and meditation with a placebo-control treatment for reduction in several physiological and psychological measures of stress, anxiety, and tension before and after a written final examination in 48 high-test anxiety subjects. The subjects, 24 men and 24 women, were divided into three groups for testing purposes. Group 1 spent 20 minutes in moderate treadmill walking; group 2 spent 20 minutes meditating quietly and relaxing muscles; group 3 were each given a pill, purportedly double-blind, potentially a tranquilizer pill, in reality, a placebo. Tests were made for resting heart rate, systolic and diastolic blood pressure, frontalis muscle tension, and electrodermal response. Results indicated that brief mild exercise may be more effective in coping with stress than quiet meditation to a slight degree. The tranquilizer (placebo) appeared to be the least effective method of reducing anxiety. (JD)