replacement tiles for asbestos shingles are being reproduced by several manufacturers. for example: http://www.jameshardie.com/homeowner/prodhome/hardishingle.php

Painting is fairly easy and durable because the asbestos cement holds paint very well and does not expand and contract with temperature or moisture. If you take care of the siding, and use a quality paint, it will not pose a hazard managed in place. If you cut, scrape, grind or break up the siding, it can release asbestos fiber. Single family residential siding is not regulated by US EPA, but OSHA prohibits a contractor from exposing his employees to asbestos. That is what usually kicks in a very large removal bill if you hire a removal eventually.

Thanks for the info. In relation to replacing transite tiles. If cutting is not a good idea how does one size the tiles to fit near stairs for instance?? Thanks again.

The replacement shingles are non-asbestos and can be cut with a masonry blade, preferably wet. You still need dust protection, but the new siding is reinforced with cellulose or fiberglass fiber, so does not pose much hazard. Even the old transite can be cut, but only with a wet tile saw and proper protection and controls. Most DIY homeowners are not equipped to cut asbestos cement safely. If you can match your existing siding reasonably well, only cut non-asbestos tiles and avoid any cutting of asbestos. Remove any broken asbestos tiles WET and in as whole pieces as possible.

Thanks for your help...I called some dealer of j hardie siding and they were unsure if it was used as replacement for transite. Do you know anything about WeatherSide fiber cement siding and where it can be bought? Thanks again