The aim of this study was to compare the effects of growth hormone administration and treadmill exercise on bone mass, body fat mass, and fat-free mass. Forty female rats aged 14 mo were divided into control, ovine growth hormone administration (0.5 mg.kg(-1).day(-1); GH), treadmill exercise (17 m/min, 60 min/day; EX), and EX + GH groups. Noninvasive total body electrical conductivity and dual X-ray absorptiometry techniques were used to assess the body fat content, fat-free mass, and tibial and L(4) vertebral bone mineral content of each experimental animal at weeks 0, 9, and 16. The age-related increase in body fat mass was suppressed in the GH group, and the fat-free mass and L(4) bone mass were higher in the GH group than in the control group. Conversely, in the EX group there was no gain in body fat mass and no significant change in fat-free mass or vertebral bone mass. The tibial bone mass increased in both the GH and EX groups; however, the time response to the two interventions appeared to differ. In the EX + GH group there was no further enhancement of the anabolic effect on the tibial bone mass. The effect of growth hormone administration on body fat content and bone mass is distinct from that of treadmill exercise.