Cardiovascular modeling has been used to study the behavior of blood pressures in the peripheral and systemic compartments, cardiac output, ventricular elastance and contractility in the human circulatory system under various conditions. In this study, a global lumped compartment model was developed to predict the pulsatile pressures in the finger arteries. It is a combination of a non-pulsatile model by Kappel and a pulsatile left ventricle model by Olufsen. Linking the average flow model with the pulsatile flow was the main difficulty. The current model includes a finger artery compartment to reflect a typical site of measurement of pulsatile pressures. The left ventricular elastance is modeled to reflect variations in the stiffness of heart muscles during a heart beat. The maximum elastance of the left ventricle is represented by a sigmoidal function, which is dependent on the heart rate. The goal of the study is to model and investigate the blood pressure regulatory mechanisms specifically during the exercise phase as in the bicycle ergometer test. It is aimed at designing a feedback control represented by the baroreceptor loop. The fundamental approach is to obtain a stabilizing control by minimizing a cost functional, thus steering the system to the equilibrium exercise state. The current model is reduced, modified and simplified to acquire a new system, which in some sense, is not so different from the original. Though the character of the system is changed, the modified model serves as the basis for the construction of feedback control. Numerical simulations showing the dynamics of the states during rest and exercise conditions are presented including the controlled system from initial equilibrium rest phase to equilibrium exercise phase.