Notice to the Market – Commencement of the Fourth Period for the Conversion of Units

NOTICE TO THE MARKET
Commencement of the Foruth Period for the Conversion of Units

Rio de Janeiro, May 27, 2013 – Contax Participações S.A. (“Contax” or “Company”) hereby informs its shareholders, investors and the market in general that as of May 27, 2013, the Company started the fourth conversion period of the deposit stock certificate issue program (“Units”), as approved at the Extraordinary Shareholders’ Meeting held on April 2, 2013.

Each Unit represents one (1) common share and four (4) preferred shares issued by Contax and is traded through the ticker symbol CTAX11.

The procedures and terms for the conversion of lots of five (5) shares which are not Share Multiples (“Conversion”) and the issue of the corresponding Units are detailed in the Material Fact of April 25, 2013 and the Conversion Request Periods and Share Conversion / Unit Issue Dates must be observed.

For further details regarding the Conversion Request Periods and Share Conversion, please refer to the full notice.