The planned study has two purposes:

1. It is to provide evidence that the administration of a cholinesterase inhibitor will result in an increase of IGF-I (primary variable) and in an increase of the secretion growth hormone (secondary variable) that can be maintained throughout the treatment-period of one year.
2. The study also tests the hypothesis that maintenance of increased blood levels of growth hormone and IGF-I can stop or delay the age-related changes of body composition (secondary variables) .

Inclusion Criteria:

• Aged between 70 and 80 years

Exclusion Criteria:

• Cardiac arrhythmias (sick sinus syndrome, AV block, sino-atrial block),
• Treatment with beta-blockers, NSAIDs or cholinergic agonists,
• Known hypersensitivity to donepezil hydrochloride, piperidine derivatives or to any excipients used in the formulation,
• Gastric and duodenal ulcer,
• Severe renal and hepatic impairment,
• Urinary congestion (prostatic hypertrophy),
• Obstructive pulmonary disease (bronchial asthma);