Banner Exchange Directory.

• Firetraffic -Top new banner exchange MLM welcome 1:2 + 300 free 10/10 Great site!
• 1 Ad Exchange - swap targeted ads with other sites.. Live stats 8/10
• 1 Banner Exchange - banner and button exchange offers targeted advertising, detailed stats, and more.
• 4Traffic.net - banner exchange, guest book, search engine submission, tracking, and more.
• Buttonexchange.org :*New but looks promising*
• Banneradsforfree.com - targeted banner exchange network.
• Banners-R-Us - with 468x60 sizes, detailed stats, 3:2 ratio, and more.
• BannerGoMLM -WOW, What more can I say. If you have a site you need this FREE account. 10/10
• Click Thru -One of the best exchange programs that also allows you to send opt-in mail FREE 9/10
• Clicks4U :Good to Very good, Also win hits and traffic 8/10 
• CyberLink Exchange
• Exchange'O'matic. -Text link exchange system, Takes up less space on your page but still get hits 6/10
• Ezhits4U :Good all-round program another must have. 9/10 (Get your account now, growing FAST)
• Hitharvester -Another top banner system, a real must have for all webmasters. 9/10
• linkreferral -More than just the basic banner exchange system, have a look  8/10
• I Love Clicks - Sign up now for free and immediately begin driving hundreds of visitors to your site! 9/10
• Looksmart Clicks - one-for-one banner exchange network.
• Net-On's Banner Exchange
• NoMoreHits -Works a different way to other systems, Set up so surfers open there browsers onto your site. 8/10
• SmartClicks - promote your site with free targeted banner advertising.
• TradeBanners
• Web-Resources Exchange - offers members targeted banner ads at 4:3 ratio.
• Webmaster Exchange - free banner and button exchange only for sites with content of interest to webmasters.