<PAGE>   1

                                CLASS A WARRANTS
                         VOID AFTER SEPTEMBER 15, 2002
        STOCK PURCHASE WARRANT CERTIFICATE FOR PURCHASE OF COMMON STOCK
                           CASCO INTERNATIONAL, INC.

NO. WA 0012                                                   CUSIP 147399 11 7

THIS CERTIFIES THAT FOR VALUE RECEIVED

                                    SPECIMEN


or registered assigns (the "Registered Holder") is the owner of the number of
Class A Redeemable Common Stock Purchase Warrants ("Warrants") specified above.
Each Warrant initially entitles the Registered Holder to purchase, subject to
the terms and conditions set forth in this Certificate and the Warrant Agreement
(as hereinafter defined), one fully paid and nonassessable share of Common
Stock, $.01 par value ("Common Stock"), of CASCO INTERNATIONAL, INC., a Delaware
corporation (the "Company"), at any time between the Separation Date (as herein
defined) and the Expiration Date (as hereinafter defined), upon the presentation
and surrender of this Warrant Certificate with the Subscription Form on the
reverse hereof duly executed, at the corporate office of American Stock Transfer
and Trust Company, as Warrant Agent, or its successor (the "Warrant Agent"),
accompanied by payment of $5.50 per share (the "Purchase Price") in lawful money
of the United States of America in cash or by official bank or certified check
made payable to CASCO INTERNATIONAL, INC.



     This Warrant Certificate and each warrant represented hereby are issued
pursuant to and are subject in all respects to the terms and conditions set
forth in the Warrant Agreement (the "Warrant Agreement") dated September 15,
1997, by and between the Company and the Warrant Agent.

     In the event of certain contingencies provided for in the Warrant
Agreement, the Purchase Price and/or the number of shares of Common Stock
subject to purchase upon the exercise of each Warrant represented hereby are
subject to modifications or adjustment.



     Each Warrant represented hereby is exercisable at the option of the
Registered Holder, but no fractional shares of Common Stock will be issued in
the case of the exercise of less than all the Warrants represented hereby, the
Company shall cancel this Warrant Certificate upon the surrender hereof and
shall execute and deliver a new Warrant Certificate or Warrant Certificates of
like tenor which the Warrant Agent shall countersign, for the balance of such
Warrants.



     The term "Separation Date" shall mean September 15, 1998, subject to
earlier separability in the discretion of Biltmore Securities, Inc.

     The term "Expiration Date" shall mean 5:00 p.m. (New York time) on
September 15, 2002, or such earlier date as the Warrants shall be redeemed.  If
such date shall in the State of New York be a holiday or a day on which the
banks are authorized to close, then the Expiration Date shall mean 5:00 p.m.
(New York time) the next following day which in the State of New York is not a
holiday or a day on which banks are authorized to close.

     The Company shall not be obligated to deliver any securities pursuant to
the exercise of this Warrant unless a registration statement under the
Securities Act of 1933, as amended, with respect to such securities is
effective.  The Company has covenanted and agreed that it will file a
registration statement and will use its best efforts to cause the same to
become effective and to keep such registration statement current while any of
the Warrants are outstanding and the exercise price of the Warrants is less
than the market price of the Common Stock.  This Warrant shall not be
exercisable by a Registered Holder in any state where such exercise would be
unlawful.


     The Warrant Certificate is exchangeable, upon the surrender hereof by the
Registered Holder at the corporate office of the Warrant Agent, for a new
Warrant Certificate or Warrant Certificates of like tenor representing an equal
aggregate number of Warrants, each of such new Warrant Certificates to represent
such number of Warrants as shall be designated by such Registered Holder at the
time of such surrender.  Upon due presentment with any transfer fee in addition
to any tax or other governmental charge imposed in connection therewith, for
registration of transfer of this Warrant Certificate at such office, a new
Warrant Certificate or Warrant Certificates representing an equal aggregate
number of Warrants will be issued to the transferee in exchange therefor,
subject to the limitations provided in the Warrant Agreement.


     Prior to the exercise of any Warrant represented hereby, the Registered
Holder shall not be entitled to any rights of a stockholder of the Company
including, without limitation, the right to vote or to receive dividends or
other distributions and shall not be entitled to receive any notice of any
proceedings of the Company, except as provided in the Warrant Agreement.



     This Warrant may be redeemed at the option of the Company, at a redemption
price of $.05 per Warrant, at an time after one (1) year from the Effective
Date, provided the closing bid price for the Common Stock issuable upon
exercise of such Warrant shall equal or exceed 175% of the initial public
offering price of the Company's Common Stock for twenty (20) consecutive
trading days ending within ten (10) days of the notice of redemption.  Notice
of redemption shall be given not later than the thirtieth day before the date
fixed for redemption, all as provided in the Warrant Agreement.  On and after
the date fixed for redemption, the Registered Holder shall have no rights with
respect to this Warrant except to receive the $.05 per Warrant upon surrender
of this Certificate.


     Prior to due presentment for registration of transfer hereof, the Company
and the Warrant Agent may deem and treat the Registered Holder as the absolute
owner hereof and of each Warrant represented hereby (notwithstanding any
notations of ownership or writing hereon made by anyone other than a duly
authorized officer of the Company or the Warrant Agent) for all purposes and
shall not be affected by any notice to the contrary.

     This Warrant Certificate shall be governed by and construed in accordance
with the laws of the State of New York.

     This Warrant Certificate is not valid unless countersigned by the Warrant
Agent.


     IN WITNESS WHEREOF, the Company has caused this Warrant Certificate to be
duly executed, manually or in facsimile by two of its officers thereunto duly
authorized and a facsimile of its corporate seal to be imprinted hereon.



Date:                                             CASCO INTERNATIONAL, INC.

                                [SEAL]      By:               By:
COUNTERSIGNED:
AMERICAN STOCK TRANSFER & TRUST COMPANY     Jeffrey A. Ross    Charles R.  ?????
                       as Warrant Agent
By
          /s/        Authorized Officer     Secretary                President
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                               SUBSCRIPTION FORM
     To Be Executed by the Registered Holder in Order to Exercise Warrants

     THE UNDERSIGNED REGISTERED HOLDER hereby irrevocably elects to exercise
___________________ Warrants represented by this Warrant Certificate, and to
purchase the securities issuable upon the exercise of such Warrants, and
requests that certificates for such securities shall be issued in the name of

     ______________________________________________________________________
      (please insert taxpayer identification or other identifying number)

and be delivered to
     ______________________________________________________________________
     ______________________________________________________________________
     ______________________________________________________________________
     ______________________________________________________________________
                    (please print or type name and address)

and if such number of Warrants shall not be all the Warrants evidenced by this
Warrant Certificate, that a new Warrant Certificate for the balance of such
Warrants be registered in the name of, and delivered to, the Registered Holder
at the address stated below:
     ______________________________________________________________________
     ______________________________________________________________________
                                   (Address)
     ______________________________________________________________________
                                     (Date)
     ______________________________________________________________________
                        (Taxpayer Identification Number)


                              SIGNATURE GUARANTEED
                                   ASSIGNMENT
      To Be Executed by the Registered Holder in Order to Assign Warrants
          FOR VALUE RECEIVED, hereby sells, assigns and transfers unto
     ______________________________________________________________________
      (please insert taxpayer identification or other identifying number)
     ______________________________________________________________________
     ______________________________________________________________________
     ______________________________________________________________________
     ______________________________________________________________________
                    (please print or type name and address)

of the Warrants represented by this Warrant Certificate, and hereby irrevocably
constitutes and appoints

______________________________________________________________________ Attorney
to transfer this Warrant Certificate on the books of the Company, with full
power of substitution in the premises.

     ______________________________________________________________________
                                     (Date)

                              SIGNATURE GUARANTEED

THE SIGNATURE TO THE ASSIGNMENT OR THE SUBSCRIPTION FORM MUST CORRESPOND TO
THE NAME AS WRITTEN UPON THE FACE OF THIS WARRANT CERTIFICATE IN EVERY
PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATSOEVER, AND
MUST BE GUARANTEED BY A COMMERCIAL BANK OR TRUST COMPANY OR A MEMBER FIRM OF
THE AMERICAN STOCK EXCHANGE, NEW YORK STOCK EXCHANGE, PACIFIC STOCK EXCHANGE OR
MIDWEST STOCK EXCHANGE.