The ASR light stands for Acceleration Slip Regulation and the ABS light obviously is for the Anti lock brake system.
The reason for these lights coming on is because you have a code in the ABS system. You will need to get your ABS computer scanned for codes and fix the area of concern.
Unfortunately, you will need to go to a shop that has a scanner that can pull codes from your ABS system. There is no way to pull codes from the ABS system without the use of a scan tool.
THe diagnostic procedure and a list of the codes are listed below.
Displaying & Reading Trouble Codes (DTC Memory)
Traction Systems (ABS, ASR, ETS) and Speed-Sensitive Power Steering (SPS)
Models 129, 140 as of 06/94 up to 08/95 (ASR, ETS, SPS)
Preparation for DTC Readout
Connect impulse counter scan tool or Hand-Held Tester (HHT) to data link connector (X11/4) according to connection diagram.
Connect yellow wire from impulse counter scan tool to:
ASR/SPS or ETS/SPS control module (N47-1 N47-2): socket 6
EA/CC/ISC control module (N4/1): socket 7
Base module (N16/1): socket 8
Engine control module (N3/4): socket 4
LH-SFI or right LH-SFI control module (N3/1, N3/3): socket 4
Left LH-SFI control module (N3/2): socket 5
DI or right DI control module (N1/3, N1/5): socket 17
Left DI control module (N1/4): socket 18
Read out DTC memory for control modules.