The effects of moderate physical activity were studied in 19 postmenopausal and 25 premenopausal women on the enzymatic (superoxide dismutase and catalase) and non-enzymatic (vitamins A and E) antioxidant systems and on the processes of lipid peroxidation (malondialdehyde), and to see whether there is any variation in oxidative stress indicators between the postmenopausal and non-menopausal women. The subjects were also studied anthropometrically. At the end of a training period, there was a decrease in body fat percentage and in various skin folds. Neither group presented a rise in lipid peroxidation levels, although there was a significant (p<0.05) rise in superoxide dismutase activity in the postmenopausal women.