The effects of energy restriction (diet) in combination with either aerobic (DA) or resistance exercise (DR) on adipose tissue (AT) distribution were evaluated in 24 obese women (DA, n = 10; DR, n = 14). AT distribution was measured by magnetic resonance imaging (MRI). Comparison between groups demonstrated that the relative losses observed for body weight, subcutaneous AT (SAT), and visceral AT (VAT) volume were not significantly different (P > 0.05). A significant reduction in the volume ratio of VAT to SAT was observed for both groups (P < 0.01). Comparison of arm, abdomen and torso, and lower-body regions revealed that the regional mobilization of SAT was not significantly different between groups (P > 0.05) and that for both groups there was a preferential mobilization of SAT from the abdominal region (P < 0.05). Within the VAT depot, significant reductions were observed for both intraperitoneal and extraperitoneal AT (P < 0.01). These findings suggest that the combination of moderate energy restriction and either resistance or aerobic exercise induces significant reductions in VAT and SAT, with a preferential loss of VAT, and are thus effective means of reducing total and upper-body obesity in obese women.