Broomstick Twist
This exercise can be performed either seated or standing, however seated helps isolate the oblique muscles, and prevents hip rotation. If standing have a wide leg stance, if seated aim to have your legs wide, feet flat on the floor.
Keeping your hips pointing forward, rotate slowly from the waist, whilst holding a broomstick across your shoulders, arms extended straight along the broomstick.
Begin with small movements, focusing on contracting the obliques to the side that you're turning too. Gradually increase the range of movement, however always aim to keep your hips forward, utilising the broomstick to keep your back straight, and to avoid rotating your shoulders forward.
A good exercise for beginners, aim to work for 10 - 15 slow movements each side, repeat again after 20 - 30 seconds rest.
Intermediates repeat as above, but at the final turning phase, hold for a split second prior to repeating on the other side.
Advanced, use the above method as a warm-up for harder abdominal exercises, or alternatively use a barbell rather than a broomstick.