INCORPORATED UNDER THE LAWS OF THE STATE OF ARIZONA
                                 PREMIUM CIGARS
                              INTERNATIONAL, LTD.

This certifies that          SPECIMEN                            is the owner of
_________________________________________________________________ fully paid and
non-assessable Shares of the above Corporation 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 endorsed.

In Witness  Whereof,  the said  Corporation  has caused this  Certificate  to be
signed by its duly  authorized  officers  and to be sealed  with the Seal of the
Corporation.
Dated ______________________________