HTML> <HEAD>> </HEAD> <BODY LINK="#0000ff" VLINK="#800080"> <B><P ALIGN="CENTER">SUBSCRIPTION ESCROW AGREEMENT</P>Subscription Escrow Agreement • May 23rd, 2001 • PDC 2003 Drilling Program • Oil & gas field exploration services • New York
</B><P ALIGN="JUSTIFY">	Subscription Escrow Agreement (the "Escrow Agreement") dated as of the effective date (the "Effective Date") set forth on schedule 1 attached hereto ("Schedule 1") by and among the limited partnership identified on Schedule 1 (the "Issuer"), the corporation identified on Schedule 1 (the Depositor") and Bank One, West Virginia, as escrow agent hereunder (the "Escrow Agent").</P>
