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Material Fact

In compliance with Article 157, Paragraph 4 of Law 6404/76 ("Brazilian Corporation Law") and CVM Instruction 358/2002, CTX Participações S.A. ("Company") and its subsidiary Contax Participações S.A. ("Contax", Bovespa: CTAX3, CTAX4, CTAX11), hereby inform their shareholders and the market in general that, on this date, they signed the Termination Agreement of CTX Participações S.A.‘s Shareholders‘ Agreement, dated April 25, 2008 ("CTX‘s Shareholders‘ Agreement of April 25, 2008"), entered into among the shareholders AG Telecom Participações S.A., LF TEL S.A. and Fundação Atlântico de Seguridade Social, the Company as intervening party, to terminate CTX‘s Shareholders‘ Agreement dated April 25, 2008 entered into among the shareholders above, which shall cease to have effect.

Note that the Shareholders‘ Agreement of CTX Participações S.A. and Contax Participações S.A. entered into on April 25, 2008, and amended on January 25, 2011, March 11, 2013 and February 19, 2014, among the same shareholders above, AG Telecom Participações S.A., LF TEL S.A. and Fundação Atlântico de Seguridade Social ("CTX‘s and CONTAX‘s General Shareholders‘ Agreement"), remain effective.

Rio de Janeiro, September 11, 2014.

CTX Participações S.A.
Fernando Magalhães Portella
Investor Relations Officer

Contax Participações S.A.
José Roberto Beraldo
Investor Relations Officer

IR Contacts:

Tel.: +55 (11) 3131-5136 or +55 (11) 3131-1763
E-mail: ri@contax.com.br
Website: www.contax.com.br/ir
About Contax
Group Contax is one of the four largest companies worldwide, comprehensively specialized in Customer Relationship Management. Group Contax offers different communication channels to service, understand and please the end consumer of its clients. Currently, the Company operates predominantly in customer service and social care, CRM services, debt collection, retention, back-office, technology services and trade marketing.