Material Fact – Change in the Board of Executive Officers

Rio de Janeiro, October 31, 2013 – Contax Participações S.A. (BM&FBovespa: CTAX3, CTAX4 and CTAX11) in compliance with Article 157, paragraph 4, of Law 6404/76 (“Brazilian Corporation Law”) and CVM Rule 358/02, hereby informs the shareholders, investors and the market in general the change in the composition of its Board of Executive Officers.

As entered upon the minutes of the Board of Directors’ Meeting held on October 31, 2013, Mr. Marco Norci Schroeder submitted on that date his letter of resignation as Contax’s Chief Financial and Investor Relations Officer, completing his cycle at the Company. Until new resolution, the position will be occupied temporarily and cumulatively by the Chief Executive Officer, Mr. Carlos Henrique Zanvettor. During the two years serving as Chief Financial and Investor Relations Officer, Mr. Schroeder led important changes in Contax, contributing significantly to its development, and will collaborate in the transition process of his successor.

The Company informs that it has already begun the process to select the new Chief Financial and Investor Relations Officer.

The Company will maintain the market informed of any relevant subsequent event related to this.

IR Contacts:

Carlos Henrique Zanvettor – Chief Financial and Investor Relation Officer
Pedro Alvarenga d‘Almeida – Investor Relations Manager
Fábio Ornellas – Investor Relations

Tel.: +55 (21) 3131-0692
E-mail: ri@contax.com.br
Website: www.contax.com.br/ir