[Yum] interaction of yum.conf 'exclude =' and 'yum update'

[R P Herrold]

I have read the yum and yum.conf man pages but do not come 
away with an answer for this question.

Assume a case where an exclude line exists for a given package 
series, like 'mysql';  I have previously disabled cron based 
updates.

When running a manual 'yum update', will yum only propose a 
transaction set which does not require an updated 'mysql', AND 
will not break (a la' --nodeps') 'mysql' requires?

-- Russ Herrold