The aim of this study is to examine the exercise capacity in women with systemic lupus erythematosus (SLE). Women with SLE underwent exercise testing; their performance was compared to nomogram predictions. We assessed the potential effects of disease activity and cumulative damage on exercise capacity. We evaluated 52 female SLE patients aged >35 years. The mean workload achieved was somewhat higher than the nomogram predictions. However, over one fifth of the women performed at a very poor level, which in the general population is associated with a twofold increased risk of cardiovascular disease. Compared to other subjects, participants who did poorly tended toward higher disease activity, higher body mass index, and greater smoking prevalence, although the results were not definitive. Exercise testing may be used to identify a subpopulation of lupus patients with a low level of fitness. Extrapolating from general population data, these individuals are likely at particular risk for cardiovascular disease and may, therefore, benefit the most from aggressive cardiovascular risk factor reduction.