A Couple thoughts on this:
1) Outbound links can actually help your search engine rankings. This is a little known secret of SEO, but having good outbound links (not just inbound) gives your page juice.
2) An area that is often overlooked in getting link exchanges is the blogsphere. It is custom for bloggers to exchange link and it is a lot easier to get links from bloggers than it is from typical web masters. So this is an area to look to for your link building campaigns.
Best,
Ben.
crispyseo@gmail.com