A limited amount of research has been conducted on college students' physical activity levels. According to the 1996 Surgeon General's Report, only one fourth of young adults regularly exercise vigorously. Therefore, there is a need to develop effective exercise intervention programs for young adult populations. There has been no previous research using the variables of outcome expectancy value, exercise role identity, and self-regulation skills. The purpose of the study was to describe the relationship among self-regulation skills, outcome expectancy value, and exercise role identity as predictors of exercise levels. Subjects (n=1 83) represented a convenient sample of students from Personal Health classes at Ball State University. All subjects completed a four-part questionnaire divided into: self-regulation, outcome expectancy value, exercise role identity, and seven day recall. Results revealed that selfregulation and exercise role identity were predictors of vigorous activity, but not moderate activity. Outcome expectancy value was not significantly correlated with any of the dependent variables, except for male vigorous days. This study further support self-regulation and exercise role identity as predictors of physical activity.