Document:

SPECIMEN UNIT CERTIFICATE

 

	     NUMBER	UNITS
	U- ___________	 

 

	SEE REVERSE FOR	 
	CERTAIN	 
	DEFINITIONS	 

 

	 	CIS ACQUISITION LTD.	CUSIP ___________

 

UNITS CONSISTING OF ONE (1) Class
A SHARE AND ONE (1) WARRANT TO PURCHASE

ONE (1) ORDINARY SHARE

 

	THIS CERTIFIES THAT 	 
	is the owner of	 	  Units.
	 	 	 	 

 

Each Unit
(“Unit”) consists of one (1) Class A Share, par value $0.0001 per share (“Class A Share”), of CIS
ACQUISITION LTD., a British Virgin Islands company (the “Company”), and one (1) warrant (the
“Warrant”). Each Warrant entitles the holder to purchase one (1) ordinary share, par value $0.0001 per share
(“ordinary shares”) for $10.00 per ordinary share (subject to adjustment).  Each Warrant will become
exercisable on the later of (i) the consolidation of each class of ordinary shares into one class of ordinary shares after
consummation of an initial acquisition transaction or post-acquisition tender offer, as the case may be, and (ii)
____________, 2013, and will expire unless exercised before 5:00 p.m., New York City Time, on ____________, 2017, or the date
of the Company's dissolution and winding up of the Company, or earlier upon redemption (the “Expiration Date”).
The Class A Shares and Warrants comprising the Units represented by this certificate will begin separate trading 90 days
after the date of the prospectus covering these securities (the “Prospectus”) or the announcement by the
underwriters of the Company’s initial public offering of the decision to allow earlier trading; provided, however, in
no event will the representative allow separate trading of the Class A Shares and Warrants until the Company files an audited
balance sheet with the Securities and Exchange Commission reflecting the Company’s receipt of the gross proceeds of the
offering and issues a press release announcing when such separate trading will begin.  The terms of the Warrants
are governed by a Warrant Agreement, dated as of _______, 2012, between the Company and American Stock Transfer & Trust
Company, LLC, as Warrant Agent, and are subject to the terms and provisions contained therein, all of which terms and
provisions the holder of this certificate consents to by acceptance hereof.  Copies of the Warrant Agreement are on
file at the office of the Warrant Agent at American Stock Transfer & Trust Company, LLC, 6201 15th Avenue, Brooklyn NY
11219, and are available to any Warrant holder on written request and without cost. This certificate is not valid unless
countersigned by the Transfer Agent and Registrar of the Company. This Unit shall be governed and construed in accordance
with the internal laws of the State of New York, without regard to conflicts of laws principles thereof.

 

We may not cancel the units at any time
unless and until (i) we do not consummate our initial acquisition transaction within the allotted time period and are required
to dissolve and liquidate the trust account, (ii) we have completed an acquisition transaction prior to a post-acquisition tender
offer or (iii) we have otherwise consummated an acquisition and our trust account has been liquidated.

 

Witness the facsimile seal of the Company and the facsimile
signature of its duly authorized officers.

 

	  By  	 	 	 
	 	Chief Executive Officer	 	Secretary

 

CIS ACQUISITION LTD.

CORPORATE

SEAL

2012

BRITISH VIRGIN ISLANDS

 

    	 

    	 

    

 

CIS ACQUISITION LTD.

 

The Company will furnish
without charge to each unitholder who so requests, a statement of the powers, designations, preferences and relative, participating,
optional or other special rights of each class of stock or series thereof of the Company and the qualifications, limitations, or
restrictions of such preferences and/or rights.

 

The following abbreviations, when used in
the inscription on the face of this certificate, shall be construed as though they were written out in full according to applicable
laws or regulations:

 

TEN COM  -  as tenants in common

TEN ENT  -  as tenants by the
entireties

JT TEN  -  as joint tenants with
right of survivorship

and not as tenants in common

 

	UNIF GIFT MIN ACT -	 	Custodian	 	 
	 	(Cust)	 	(Minor)	 
	 	under Uniform Gifts to Minors	 
	 	Act	 	 
	 	 	(State)	 
	 	 	 	 	 	 	 

 

Additional Abbreviations may also be used though not in the
above list.

 

For value received, ___________________________
hereby sell, assign and transfer unto

 

	PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE	 
	 	 
	 	 
	 
	 
	(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE)
	 
	 
	 	 Units
	represented by the within Certificate, and do hereby irrevocably constitute and appoint
	 	  Attorney
	 	 	 	 

to transfer the said Units on the books of the within named
Company will full power of substitution in the premises.

 

	Dated 	 	 	 	 
	 	 	 	 	 
	 	 	 	NOTICE: 	The signature to this assignment must correspond with the name as written upon the face of the certificate in every particular, without alteration or enlargement or any change whatever.

 

	Signature(s) Guaranteed:
	 

THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR
INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE
MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15).

 

The holder of this certificate shall be entitled to receive
funds from the trust account only in accordance with the terms of the underlying Class A Share.  In no other circumstances
shall the holder have any right or interest of any kind in or to the trust account.SPECIMEN CLASS B SHARE CERTIFICATE

 

	NUMBER	SHARES 

_________B

 

CIS ACQUISITION LTD.

 

INCORPORATED UNDER THE LAWS OF THE BRITISH
VIRGIN ISLANDS

 

CLASS B SHARES

 

SEE REVERSE FOR

CERTAIN DEFINITIONS

 

	THIS CERTIFIES THAT	CUSIP ____________
	 	 
	IS THE OWNER OF	 

 

FULLY PAID AND NON-ASSESSABLE CLASS B
SHARES OF

THE PAR VALUE OF $0.0001 EACH OF

CIS ACQUISITION LTD.

 

transferable in accordance with the Articles
of Association of the Company, as amended.  Capitalized terms not otherwise defined shall have the meanings assigned
to them in the Company’s Amended and Restated Memorandum and Articles of Association.  Public shareholders who
hold Class B Shares will be entitled to participate in a Post-Acquisition Tender Offer by tendering their  Class B Shares in accordance
with the instructions included in the Schedule TO and related tender offer documents to be filed with the SEC.  The  Class
B Shares will be automatically consolidated with all other classes of the Company’s Ordinary Shares upon consummation of
its Post-Acquisition Tender Offer.   The Company will be forced to liquidate if it is unable to complete an Acquisition
Transaction by ________, or if it is unable to commence or complete a Post-Acquisition Tender Offer by ________ or _________ respectively,
all as more fully described in the Company’s final prospectus dated _______, 2012. Public shareholders who hold Class B
Shares will have their shares of  Class B Shares automatically converted into the right to receive a pro rata portion of the Trust
Account in the event of such liquidation. This certificate is not valid unless countersigned by the Transfer Agent and registered
by the Registrar.  Witness the seal of the Company and the facsimile signatures of its duly authorized officers.

 

Dated:

 

	 	 	 
	Chief Executive Officer	 	Secretary

 

CIS ACQUISITION LTD.

CORPORATE

SEAL 2012

BRITISH VIRGIN ISLANDS

 

    	 

    	 

    

 

CIS ACQUISITION LTD.

 

The Company will furnish without charge
to each shareholder who so requests the powers, designations, preferences and relative, participating, optional or other special
rights of each class of shares or series thereof of the Company and the qualifications, limitations, or restrictions of such preferences
and/or rights.  This certificate and the shares represented thereby are issued and shall be held subject to all the provisions
of the Amended and Restated Memorandum and Articles of Association of the Company and all amendments thereto and resolutions of
the Board of Directors providing for the issue of Class B Shares (copies of which may be obtained from the secretary of the Corporation),
to all of which the holder of this certificate by acceptance hereof assents.

 

The following abbreviations, when used in
the inscription on the face of this certificate, shall be construed as though they were written out in full according to applicable
laws or regulations:

 

TEN COM  -  as tenants in common

TEN ENT  -  as tenants by the
entireties

JT TEN  -  as joint tenants with
right of survivorship

and not as tenants in common

 

	UNIF GIFT MIN ACT -	 	Custodian	 	 
	 	(Cust)	 	(Minor)	 
	 	under Uniform Gifts to Minors	 
	 	Act	 	 
	 	 	(State)	 
	 	 	 	 	 	 	 

Additional Abbreviations may also
be used though not in the above list.

 

For value received, ___________________________
hereby sell, assign and transfer unto

 

	
        PLEASE INSERT SOCIAL SECURITY OR

        OTHER

        IDENTIFYING NUMBER OF ASSIGNEE
	 
	 	 
	 	 

 

	 
	(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE)
	 
	 
	 

 

	 	shares
	represented by the within Certificate, and do hereby irrevocably constitute and appoint

 

	 	Attorney
	to transfer the said share on the books of the within named Corporation will full power of substitution in the premises.

 

    	2

    	 

    

 

	Dated	 	 	 
	 	 	 	 
	 	 	 	NOTICE:   The signature to this assignment must correspond with the name as written upon the face of the certificate in every particular, without alteration or enlargement or any change whatever.

 

	Signature(s) Guaranteed:
	 
	 
	THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15).
	 
	The holder of this certificate shall be entitled to receive funds from the trust account only in the event of (i) liquidation of the trust account upon a failure to commence or consummate a Post-Acquisition Tender Offer within the allotted time, or (iii) if the holder seeks to convert his respective shares into cash in connection with a Post-Acquisition Tender Offer which is actually consummated.  In no other circumstances shall the holder have any right or interest of any kind in or to the trust account.

 

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