An exercise apparatus is provided for use with a hip belt or short bar for respectively conducting squat or dead lift exercises, comprising at least one elevated platform secured to a rack, a weight holder, and a guide rod and/or other guide. The weight holder may be designed to hold free weights and to attach onto a hip belt or short bar. As the user performs the desired exercise supported by the platform, the guide rod and/or other guide; guides the weight holder as it is lowered into the hole, limiting movement of the weight holder in the horizontal direction.