As automobile industry develope, design techniques to satisfy light weight and high efficiency in automobile parts is demanded. In this study modal analysis is performed using transfer matrix method to identify dynamic characteristics of exhaust system. It is estimated the theoretical transfer function by Pestel-Leckey method and the mode shapes in 3-D graphic. the validity of developed program is verified by comparing with the experimental results of exhaust system. Estimated modal parameters(natural frequency, vibrational mode, transfer function) are in accord with the experimental results. From the developed program, we can predict a location of the hanger which is determined by the lowest RMS value point, when displacement is given as an input at the engine side. We can find that attachment of spring modelled hanger at the hanger location bring vibration level down.