COMMON STOCK                                                               CUSIP


                               CORNERSTONE BANCORP
                   ORGANIZED UNDER THE LAWS OF SOUTH CAROLINA
                       This certificate is transferable in
                     New York, New York and Atlanta, Georgia

This certifies  that________________  is the owner of ____________ shares of the
COMMON STOCK, No Par Value, of CORNERSTONE BANCORP, fully paid and nonassessable
transferable only on the books of the Corporation by the holder hereof in person
or by duly  authorized  attorney  upon  surrender of this  certificate  properly
indorsed.  This  Certificate  and the shares  represented  hereby are issued and
shall be held subject to all of the provisions of the Articles of  Incorporation
and of the Bylaws of the Corporation and all amendments and supplements thereto,
copies of which are on file with the Corporation,  to all of which the holder by
acceptance of this  Certificate  assents.  This  Certificate  is not valid until
countersigned and registered by the Transfer Agent and Registrar.

In witness  whereof,  the  Corporation  has caused this  Certificate to bear the
facsimile  signatures of its duly authorized  officers and its facsimile seal to
be hereunto affixed.


Dated:_________________

                                            [SEAL]


_________________________                  _____________________________________
President                                  Secretary


                                           COUNTERSIGNED AND REGISTERED:

                                           _____________________________________
                                           Transfer Agent and Registrar

                                           By:__________________________________
                                                Authorized Signature







                         [REVERSE OF STOCK CERTIFICATE]

                               CORNERSTONE BANCORP

The Corporation will furnish to any shareholder upon request and without charge,
a full statement of the  designations,  preferences,  limitations,  and relative
rights  of the  shares  of  each  class  authorized  to be  issued  and,  if the
Corporation is authorized to issue any preferred or special class in series, the
variations  in the relative  rights and  preferences  between the shares or each
such series so far as the same have been fixed and determined, and the authority
of the  board  of  directors  to fix  and  determine  the  relative  rights  and
preferences of other series.

                            [STANDARD TRANSFER FORM]