First off - it's great that you have decided to start taking care of yourself and get into shape. I don't know how long you've been at the exercises and healthy eating, but do be patient - you didn't get into bad shape overnight and you won't be able undo it overnight. You've taken the first steps.
You can try some crunches, and other exercises that target belly fat - there are several websites from which you can get exercises to do to help get rid of tummy bulge or check out the DVD section at most department stores. There a lot of excellent DVDs that are fun to do and don't require a lot of expensive equipment and will target the whole body. And of course, I must tell you that I enjoy doing yoga - the moves can really stretch those muscles and help make your body much more flexible. And since the poses require concentration in order to get the correct form, they are also very relaxing.
I've also read that eating monounsaturated fatty acids (MUFA) is supposed to help get rid of belly fat. MUFAs include avocado, nuts, etc. Do a web search for a list.
Also - keep walking. Walking is one of the best types of exercises you can get. I recommend getting an inexpensive pedometer in order to make sure that you are walking enough. The recommended amount is 10,000 steps/day. If you wear your pedometer all day, you'd be surprised how much distance you actually put on each day. Don't forget that housework, such as vacuuming, mopping, etc also counts as exercise. If you aren't used to doing a lot of walking, try aiming for 1/2 the recommended amount and add 500 steps a day.
Last, but not least, be ever mindful of your portion sizes as well as the content.
Good luck and come back to visit us often for lots of support and help.
I don't have specific advice, but I'm the same age and in a similar boat of undoing years of bad habits, so I justed wanted to stop in and say congrats and good luck.
I'm still relatively new to exercising, hopefully a more expereinced member can offer more directed pointers.
I think it is imporant to target different areas. I work out a lot on ellipitcal and stair machines which don't do much for my arms. Now that I've lost some weight, my upper arms are kinda gross looking, in a sagging kind of way. Luckily, the skin on my legs and middle seems to be shrinking at the same rate as the rest of me so far.
I think lots of guys have the most trouble in the middle. I hope you get the results you want soon!