Most websites will have a links section on their website that points to other related websites. Having a links page is good for your visitors, it allows them to easily find related links to sites that might interest your visitors. Your links page, should be easy to find and you should be able to reach all of your links pages with two mouse clicks from your home page.
Another very effective method of exchanging links is to list recommended resources at the bottom of articles. What is good about adding resource boxes at the end of articles is that you are giving attention to these websites in places your visitors are likely to be reading. It gives the links a higher profile in some webmasters minds and can be an effective way to get a webmaster to link back to your site.