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Banner Advertising.

Web Advertising falls into two main categories. Banner Exchanges and paid adverts.

Banner Exchange Networks are where you carry banners advertising for other sites and the network displays your banners on other member sites. There is normally a set ratio of how many banners you display on your site to how many times your banner gets shown on the network. There are often stipulations about where on the page you should place the banner so check the details on each scheme's website to make sure that it fits your needs.

Impressionz
Impressionz offer a UK oriented banner exchange but they also have a US exchange. They offer a choice of three banner sizes. We've used Impressionz on several sites and we have had good results with them. They don't offer the range of stats that you get with some schemes but it all works very well and we would recomend them if your site has a UK bias.
Join Impressionz UK.
 
UK Banners
A UK oriented banner exchange that claims to have one of the best ratios available. UK banners has sister schemes for other territories and size of banner. It also offers a reasonable array of stats.
Join UK Banners.
 
Link Exchange
Microsoft's own banner exchange scheme. It offers an impressive array of stats and targeting options but its ratio is not one of the best. There are an enormous number of sites in the scheme so your banner could appear almost anywhere but you may find a more niche scheme will be better suited. It all depends on your site's needs.
Join Link Exchange.
 
1 For 1 Media Exchange
A Banner Advertising company that is part traditional web advertising part Banner exchange. They will pay webmasters $0.10 per click through on banners rotated on your site. This money is redeemable against ads you run on their network. You also pick up credits for referring other sites.
Join 1 For 1