Notice to Shareholders
Exercise of Preferential Rights for Debentures Subscription

Rio de Janeiro, August 31, 2012 - Contax Participações S.A. (Bovespa: CTAX3 and CTAX4) ("Company") announces to the market the signing for the 2nd private issuance of simple debentures in 2 (two) series. The first one is backed by a floating guarantee and the second one by personal security combined with a subscription bonus ("Debentures"), in compliance with the terms and conditions set by the Ordinary and Extraordinary General Meeting of the Company taken place on April 11, 2012 and by the Board of Directors Meeting of July 25, 2012.

To see the full version of the Notice to Shareholders, click here.