The Collaborative International Dictionary of English v.0.48:
Exhilarating \Ex*hil"a*ra`ting\, a. That exhilarates; cheering; gladdening. -- Ex*hil"a*ra`ting*ly, adv. [1913 Webster]WordNet (r) 3.0 (2006):
exhilarating adj 1: making lively and cheerful; "the exhilarating effect of mountain air" [syn: exhilarating, stimulating] 2: making lively and joyful [syn: elating, exhilarating]