I started at 110kg and initially dieted like crazy and exercised to the point of exhaustion. Dragged my weight down 15kg. The last 10kg was ironically lost by eating more than usual and cycling 1200km a month or more. The size change is way more drastic. I was at size 38 pants and xl shirts. Now I wear 32 inch waist size and I fit into an L. My body has dropped most if not all of its subcutanious fat and I can see every muscle - even my abs when I move. Sometimes massive amounts of exercise acheive the same result.
I've also gained legs like tree trunks and can ride twice as fast or better with little effort for 5 hours at a time.
Personally I think exercise is the key to losing weight and keeping it off.