Risk factors were retrospectively identified in 98 post menopausal subjects considered at risk for primary, Type I osteoporosis. The relationship between identified risk factors and exercise participation by volunteer postmenopausal females was investigated. Attitude toward physical activity was determined for both the experimental (those who elected to exercise) and control groups (those who elected not to exercise). Eight selected risk factors were assessed: chronological age, years post menopause, ethnic background, exercise history, calcium intake, smoking, hormone therapy, and menopause history. Attitude toward physical activity was assessed by the use of Kenyon's ATPA Inventory. The experimental group had a significantly lower number of risk factors than did the control group (p = $>$.0001). The experimental subjects had a significantly more positive exercise history than those in the control group (X$sp2$ = 18.643, p = $>$.0001). More than half of the control group (55.6%) and the experimental group (54.7%) had a calcium intake less than 800 mg/day. Assessment of attitude toward physical activity revealed no significant difference between groups; however, ATPA scores in the health and social subdomains revealed positive responses by both groups. No significant relationship was found between attitude toward physical activity and level of physical fitness.