An adjustable bench adapted to support a human body during exercise and capable of engaging an auxiliary rack assembly is provided. The bench includes a seat and a backrest that are interconnected and moveable relative to a frame. The bench is adjustable from a generally flat configuration to one or more inclined configurations. In the flat configuration, the bench is particularly suitable for pressing exercises such as the bench press. In the fully inclined position, the bench is suitable for upright exercises such as the military press and the shoulder press. The shoulders of the human body remain generally at the same horizontal location along the bench as the backrest is inclined. The bench thus does not need to be repositioned relative to a bar as the inclination of the bench is changed.