A handicapped accessible exercise apparatus having a central housing with two pivoting extension arms. Cables extend from weight stacks within the housing to movable cable guides on the arms for engagement by a user. By adjusting the positions of the arms and the cable guides, the apparatus can be configured to facilitate various exercises and to accommodate users of various sizes. The apparatus is provided with button-operated locks for allowing users with limited manual dexterity to easily lock and unlock the positions of the extension arms and the cable guides.