I was able to bring my LDL down from 200 to 140 in 3 months by cutting WAY back on saturated fat, trans fat and foods containing cholesterol. In fact on my first test it came out at 130. Went back up to 140 after Thanksgiving/Christmas holidays so working on getting it back down again.
Exercise is VERY important as it will keep that HDL of 64 up there.
Diets that are very low fat will definitely lower LDL, sometimes dramatically but also lower HDL so exercise is vital. Losing those 30 extra pounds should make a big impact as well.
If this is his first abnormal cholesterol reading, I would give this a try for 3 - 6 months and retest again before resorting to meds.
By the way, if it works, then he needs to be forever vigilant and adhere to the dietary / exercise rules, lest he end up on statin therapy which if you read many of the posts on this board, the side effects can be dreadful.
Good luck.