You could use a subquery (assuming MySQL 4.1):
[tt]
SELECT SUM(col1)
FROM
(
SELECT col1 FROM table WHERE col3 = 'value 1'
UNION ALL
SELECT col2 FROM table WHERE col4 = 'value 1'
)
u
[/tt]
or, a bit more exotic, and possibly slower, but works on earlier versions:
[tt]
SELECT SUM(col1*(col3='value 1')+col2*(col4='value 1'))
FROM table
[/tt]