Others may disagree, but IMO all link exchange emails are spam. Website owners have been so inundated with link exchange spam that even genuine, personally addressed emails requesting a link exchange are ignored.
My advice would be to select the top ten sites that you want to exchange links with and get to know each site's webmaster via other topics of conversation such as congratulating them on a great site, good content, or you found the site enjoyable.
After you've exchanges a few emails with the webmaster, then broach the topic of a link exchange.
My inbox gets spammed with hundreds of link exchange emails a day. I find them highly f'n annoying! The few that get past my link exchange spam filter are personally addressed but 9 times out of 10, the exchanger's site is COMPLETELY unrelated to the site they're asking for a link on.