There is exhaust leak sealers sold at part stores. I used some on my escort just because we had some in the shop and it's my beater. If I were you, I'd get it welded.
http://www.midwayautosupply.com/detailedproductdescription.asp?9322
http://www.caswellplating.com/permatex/permrepairprods.html
http://www.malcopro.com/ppitech/185204.pdf

98.5 SVT 91 Escort GT (almost sold) 96 ATX Zetec (i brake to watch you swerve) FS: SVT rear sway bar WTB: Very cheap beater CEG Dragon Run - October 13-15