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Material Fact

São Paulo, December 14, 2015. Contax Participações S.A. ("Contax" or "Company"; CTAX11; CTAX3 and CTAX4), pursuant to article 157. paragraph 4 of Law 6404 of December 15, 1976 and CVM Instruction 358/02, hereby informs its shareholders, investors and the market in general that the general meetings of the debenture holders of the Company‘s 1st, 2nd and 3rd debenture issues were held on December 14, 2015, in which the following resolutions were taken: (i) postponement of the maturity of the installments of principal and interest related to the 1st series of the 1st debenture issue from December 15, 2015 to December 22, 2015; and (ii) postponement of the maturity of the installment of interest related to the 2nd series of the 1st debenture issue from December 15, 2015 to December 22, 2015, pursuant to the respective minutes of the general meetings of the debenture holders, which are available on the Company‘s website (ir.contax.com.br).

Following the above resolutions, the Company proposed, with the agreement of the debenture holders, that the respective general meetings be suspended and reopened on December 21, 2015, at the same time and date as previously disclosed, when the debenture holders will resolve on the other matters in the management proposals.

São Paulo, December 14, 2015.

José Roberto Beraldo
CFO and Investor Relations Officer