How link exchange pages affect PR?

Are link exchange pages worth it?

[killeraces]

I'm thinking of expanding my link exchange page. It currently has 12 links and I'm thinking of adding 50-100 links (as part of a link exchange campaign with webmasters).

I know that outbound links leak PR. But does having outbound links in the directory leak PR for ENTIRE site, or does it only dissipate the PR for the directory page?

Currently, my home page PR is 4. My directory page, which is located in home/directory.html, has a PR of 3. I'm willing to see the directory page's PR go down, but I don't want the outbound links to drag down my home page PR.

Even though this is a link exchange type of deal, I will also be adding links to pages that will be helpful to my users but will not have high PRs. So a leak is imminent....

[specter]

I know that outbound links leak PR. But does having outbound links in the directory leak PR for ENTIRE site, or does it only dissipate the PR for the directory page?

For both.