yes Asterisk can handle that. You will need an analog gateway. If you need to connect 100 anolog telephone line from the telco you will need a device that provide 100 fxo ports. You can try
http://www.voip-info.org/wiki/view/Analog+Telephone+Adapters for multi-ports fxo gateways. there's a lot of company making these devices. You want to checkout the sangoma, quintum, or adtran FXO cards. Cost for a 24 ports is under $2000.
Checkout
http://shop.ebay.com/i.html?_kw=24&_kw=ports&_kw=fxo&_ckw=gateway&_dmpt=COMP_EN_Routers&_trksid=p3286.m104.l1199Why you want to do it like that is beyond me. You are just asking for trouble. It would be better if you get a T1 trunks or SIP trunks to Asterisk and port the numbers as DID to the trunk. You can then send the call to the user's extension base on called number.