Exact parameter-free tolerance intervals based on the first r ordered observations from a sample of size n from an exponential distribution are developed. Various criteria for goodness of tolerance intervals are examined, and certain optimum properties of these intervals are demonstrated. The asymptotic behavior of these intervals is studied. Comparisons are made between these intervals and nonparametric tolerance intervals. Finally, the effect of assuming an exponential distribution, when in fact the distribution is a mixture of two exponentials, is discussed briefly.