1) ADJ-GRADED: usu ADJ n Someone or something that is at an exalted level is at a very high level, especially with regard to rank or importance. [FORMAL]

...at the exalted level of Olympic competition...

You must decide how to make the best use of your exalted position.

2) ADJ-GRADED: usu v-link ADJ If you feel exalted, you feel full of great joy and happiness. [FORMAL]

You do get very excited and exalted by the power of their speeches.

English dictionary. 2008.