125 home-dwelling elderly with a high risk for falling were randomized to undergo the Otago Exercise Program (OEP) either through group training (GT) or home training (HT). This study aimed to compare the effects on muscle strength and functional balance. Results indicated a significant improvement in Berg Balance Scale scores at 12 weeks and at 3 months, although improvement at 12 weeks was greater for GT. At 3 months, performance on the Timed Up and Go (TUG) and 30-second sit-to-stand tests were significantly better in the GT groups compared to the HT group, whereas Short Form-36 and Falls Efficacy Scale International scores were comparable. Incidence of falls was similar between groups.