Calorie Intake & Exercise?

I am not sure how it works with calorie intake and exercise.  I am currently at 148lbs and I am looking to get back down to 132.  The calculator tells me that I should intake 1500 cal/day for this weight loss by March 09....what I am not sure about is if I go to the gym and burn an additional 300 calories, do I need to eat more calories to keep my 1500 even?

Thanks for any help!

If you want to lose weight, you need to burn 500 more calories than you eat. So eat 1500, burn 2000. Hope this helps & good luck

The intake on calories consumed is a target for what you should eat - anything you burn including additional exercise will help you reach your goal sooner!  If you want to work out to allow for some "extra" calories to consume, that will work too, but the more you burn in excess of what you eat is a good thing!  :-)