ASSET SERVICING CORPORATION
                             SUBSCRIPTION AGREEMENT


                                January __, 2000


ASSET SERVICING CORPORATION
709 B West Rusk, Suite 580
Rockwall, Texas 75087

Ladies and Gentlemen:

    1.  PURCHASE OF COMMON STOCK.  Intending to be legally bound, I hereby agree
to purchase  ________ shares of voting, no par value common stock (the "Shares")
of Asset Servicing  Corporation  (the  "Corporation")  for  ______________  U.S.
Dollars  (number of Shares to be purchased  multiplied by $1.00).  This offer to
purchase is submitted in accordance with and subject to the terms and conditions
described in this Subscription  Agreement (the "Agreement").  I acknowledge that
the  Corporation  reserves the right,  in its sole and absolute  discretion,  to
accept or reject  this  subscription  and the  subscription  will not be binding
until accepted by the Corporation in writing.

    2.  PAYMENT.  I agree to deliver to the  Corporation  immediately  available
funds in the full amount due under this  Agreement,  by  certified  or cashier's
check payable to the "ASC 2000 Public Offering Escrow  Account." The Corporation
shall promptly deposit the funds into the Escrow Account.

    3.  ISSUANCE OF SHARES. The Shares subscribed for herein will only be issued
upon acceptance by the Corporation as evidenced by the Corporation  returning to
the  investor  an  executed   Agreement   acknowledging   acceptance   and  upon
satisfaction of the terms and conditions of the Escrow Agreement.

    4.  REPRESENTATION AND WARRANTIES.
         A. I understand  that the offering and sale of the Shares is registered
under (i) the Securities  Act of 1933, as amended (the  "Securities  Act"),  and
(ii)  various   States'   Divisions  of  Securities  in  compliance  with  their
administration  and  enforcement  of the  respective  States'  Blue Sky Laws and
Regulations. In accordance therewith and in furtherance thereof, I represent and
warrant to and agree with the Corporation as follows:

         [1] I am a resident of the State of  ________________ as of the date of
this  Agreement  and I have no present  intention  of becoming a resident of any
other state or jurisdiction;


         [2] I have received and have reviewed the Corporation's Prospectus
dated _____________, 2000;





<PAGE>


         [3] I have had a reasonable opportunity to ask questions of and receive
answers from a person or persons acting on behalf of the Corporation  concerning
this  investment,  including the terms and conditions of this offering,  and all
such questions have been answered to my full satisfaction;


    5.  IRREVOCABILITY;  BINDING EFFECT. I hereby acknowledge and agree that the
purchase hereunder is irrevocable,  that I am not entitled to cancel,  terminate
or revoke this Agreement or any agreements of the undersigned hereunder and that
this  Agreement and such other  agreements  shall survive my death or disability
and shall be  binding  upon and inure to the  benefit of the  parties  and their
heirs, executor, administrators,  successors, legal representatives and assigns.
If the  undersigned is more than one person,  the obligations of the undersigned
hereunder  shall be joint  and  several,  and the  agreements,  representations,
warranties and  acknowledgments  herein  contained shall be deemed to be made by
and are binding upon each such person and his heirs, executors,  administrators,
successors, legal representatives and assigns.

    6.   MODIFICATION.   Neither this Agreement not any provisions  hereof shall
be waived, modified, discharged or terminated except by an instrument in writing
signed by the party against  whom any  such  waiver, modification, discharge  or
termination is sought.

    7.   NOTICES.  Any notice, demand  or other  communication  which  any party
hereto may require, or may elect to give to anyone interested hereunder shall be
sufficiently  given if [a] deposited,  postage prepaid,  in a United States mail
box, stamped registered or certified mail, return receipt requested addressed to
such  address as may be listed on the books of the  Corporation,  [b]  delivered
personally  at such  address,  or [c]  delivered  (in person,  or by a facsimile
transmission, telex or similar telecommunications equipment) against receipt.

    8.   COUNTERPARTS.   This Agreement  may  be executed  through  the  use  of
separate  signature  pages or in any  number of  counterparts,  and each of such
counterparts  shall, for all purposes,  constitute one agreement  binding on all
parties,  notwithstanding  that  all  parties  are not  signatories  to the same
counterpart.

    9.  ENTIRE AGREEMENT.   This Agreement contains the  entire agreement of the
parties  with  respect  to  the  subject  matter   hereof,   and  there  are  no
representations,  covenants or other agreements  except as stated or referred to
herein.

    10.  SEVERABILITY.   Each  provision  of  the  Agreement is  intended  to be
severable  from every other  provision,  and the invalidity or illegality of any
portion  hereof  shall not affect the  validity  or  legality  of the  remainder
hereof.

<PAGE>


    11.  ASSIGNABILITY.  This Agreement is not transferable or assignable by the
undersigned except as may be provided herein.

    12.  APPLICABLE LAW.   This Agreement shall be governed by and construed  in
accordance  with the laws of the State of Texas as applied to  residents of that
state executing contracts wholly to be performed in that state.


INDIVIDUAL(S) SUBSCRIBER


IN  WITNESS  WHEREOF,  I have  executed  this  Agreement  as of the  ____ day of
___________, 2000.


---------------------------------------------
Signature of Purchaser


---------------------------------------------
Name(s) of Purchaser  (Please print or type)


---------------------------------------------
Purchaser(s) Social Security Number

STATE OF ________________)
                         ) SS
COUNTY OF ______________ )



    On the ________day of  _____________,  2000,  before me personally  appeared
___________________________________________, known to me to be the individual(s)
described herein and who  acknowledged  the foregoing  instruments and swore and
acknowledged that (he)(she)(they)  executed the same as  (his)(her)(their)  free
act and deed.


                  --------------------------------
                  Notary Public, State of _____________

                  My commission expires:  _____________




<PAGE>



ENTITY SUBSCRIBER


IN WITNESS  WHEREOF,  I have  executed  this  Agreement  as of the ______ day of
_________________, 2000.




------------------------------
Entity

------------------------------
Signed By

Its:
    --------------------------


------------------------------
Date

STATE OF _______________)
                        ) SS
COUNTY OF ______________)



    On the _____day of  _______________,  2000,  before me  personally  appeared
___________________________________________,  known  to me to be the  individual
described herein and who  acknowledged  the foregoing  instruments and swore and
acknowledged that (he)(she) executed the same as (his)(her) free act and deed.


                  -------------------------------------
                  Notary Public, State of _____________

                  My commission expires:  _____________



PURCHASE ACCEPTED FOR _________ SHARES:

ASSET SERVICING CORPORATION

By: ________________________________
       Charles Smith, President

Date: ______________________________