This document discusses the history and current use of exchange transfusions. It defines exchange transfusion as the repetitive withdrawal and replacement of small amounts of blood to remove a large proportion of the original volume. The key indications for exchange transfusion in newborns are hemolytic diseases like ABO or Rh incompatibility. The document provides guidelines for when an exchange transfusion is indicated based on bilirubin levels and risk factors. It describes the procedure, potential complications, and follow-up care required after an exchange transfusion.