Purpose : The purpose of this study was to investigate the effect of horse riding exercise for the prevention of falls in the frail woman elderly people. Method : 30 subjects in H-equestrian and N-equestrian were randomly divided two group, aero-step exercise group and horse-riding exercise group. Each group carried out 40 minutes exercise three times a week for 8 weeks. TUG were measured for dynamic balance ability, and sway path of COP movement during standing were measured for evaluation of static balance ability in balance performance monitor(BPM). Result : The results were as follows, the dynamic balance scales of TUG between aero-step exercise and horse-riding exercise groups in post-test, were significantly different in measures(p<.05). And there were significant in two group after exercise(p<.05). The static balance scales of sway path between aero-step exercise and horse-riding exercise groups in post-test, were significantly different in measures(p<.05). And there were significant in two group after exercise(p<.05). Conclusion : These finding revealed that horse-riding exercise was effective on dynamic and static balance abiility of elderly people so that these exercise can be new altematives for the prevention of falls in the frail woman elderly people.