An exercise device for supporting a barbell and weights thereon. The exercise device includes a pair of support members that are independently selectively engageable on a support beam. Each support member includes an elongated post with a first end positioned adjacent a floor surface and a second end having an adjustable clamp assembly for engaging the support beam. The clamp assembly suspends the post from the beam and is selectively engaged between a first clamping position and a second movable position. Each support post further includes an adjustable bar support assembly for retaining the barbell thereon. A leveling assembly may be provided on the first end of the post to orient the post at right angles to the floor and beam. The exercise device may further include a safety catch assembly mounted on each of the support members and one or more optional weight support assemblies for storing weights thereon.