Material Fact

São Paulo, March 16, 2016. Contax Participações S.A. ("Contax" or "Company"; CTAX11; CTAX3 and CTAX4), in accordance with article 157, paragraph 4 of Law 6404/76 ("Brazilian Corporation Law"), and CVM Instruction 358/02, hereby informs its shareholders and the market in general that, in view of the injunction filed in the records of Case 1023969-62.2016.8.26.0100, by the 28th Court of Justice of the State of São Paulo, Mr. Nelson Armbrust is temporarily prevented from exercising his duties as the Company‘s CEO, a position for which he was elected at the Board of Directors‘ Meeting of March 04, 2016. Said injunction was requested by Grupo Atento.

The Company is taking the necessary measures to reverse the injunction mentioned above and will keep its shareholders, investors and the market in general informed of any developments on the matter.

Daniel de Andrade Gomes
CFO and Investor Relations Officer

IR Contacts:
Tel.: +55 (11) 3131-5136 or +55 (11) 3131-1763