Could you not write all in capitals, its really hard to read..! thanks
The KTS's diagnosis will be correct in that that code is what the car thinks is wrong (as opposed to what the Bosch machine thinks is wrong), so it's fairly safe to assume the air cell pressure switch is the problem causing the stored fault.
Can't really tell until you try another one in there, though, and I wouldn't like to guess how much it might cost.
Brake problems could lead to the ASR light coming on too though. Does the light come on if you leave the car running but don't drive it or use the brakes?
2.5-16v 1990 90,000m Astral Silver
2.0E 8v 1986 107,000m Black