Link only to relevant pages that you believe supplement the purpose of your site. Make sure your link quantity is not unruly - if you have 300 links just thrown on a page, users trying to find a specific link will get confused. Try to add value to your links and make sure they are are manually reviewed.If you really want to do it right, don't make a links page for the sake of reciprocal link exchanges. Instead, try to link to helpful sites naturally and ask them to reciprocate the link.