Have to echo that. Curious if the study looked at different levels of exercise.
I am fast approaching 50, and in my mid 40s had pit one probably 15-20 pounds, depending on which year you look at. I scaled back my food intake from probably 3000 calories a day to 2000, but didn't really change my amount of exercise, which was low to medium, including activity at work. Probably dropped 4-6 pounds.
About 10 months ago, started doing actually strenuous workouts, although only 2-3 times a week on average, about 60-90 minutes each, and actually began eating more again, probably back up to 2500 or more, and I am down below the 20 pound loss mark, back to what I weighed in my late 20s. My metabolism is significantly higher.
I don't think moderate exercise like walking or light aerobics or things like that have the same effect.