A link exchange is a step that permit to webmaster do make more visitors for the own website.

Here we are some kind of link:

1) Friends Link: link from different websites that have a freetemplate.it banner or link. Here are websites that have done a link exchange with my website.

2) Link and banners in homepage: links to websites that have inserted my banner or link in theirs website homepage.

Whit the link exchange ther's the possibility to increase the website Google Pagerank!

For more issues of Google pagerank let's see this link:  Google Pagerank