A theoretical investigation is presented of the properties of heavy- and light-hole excitons in multiple GaAs/Ga1−xAlxAs quantum wells in the presence of a magnetic field directed along the growth axis. The low-lying energy levels are calculated as functions of the barrier width, the well size and the magnetic field strength. Effects of interwell coupling on the energies of different exciton levels are consistently included in our calculations. The calculation is realized by means of the diagonalization method.