Material Fact

Contax Participações S.A. ('Contax' or 'Company'), pursuant to CVM Instruction 358/02 and Law 6,404/76, as amended, informs its shareholders, investors and the market in general that its Board of Directors, at a meeting held on November 26, 2015, approved the amendment to the Company's Information Disclosure Policy ('Information Disclosure Policy'), in order to allow material acts or facts to be disclosed via an online news portal.

As established at the Board of Directors' meeting, the Company will begin disclosing material acts or facts on Folha de São Paulo's news portal at http://publicidadelegal.folha.com.br/.

In addition to the disclosure on said news portal, material facts or facts will also be disclosed on the Company's Investor Relations website (www.contax.com.br/ri/) and via the CVM's system for the submission of periodical and eventual information (IPE System).

The Company also informs the market that it will update its registration form and reference form in order to reflect said amendment to the Disclosure Policy.

São Paulo, November 26, 2015.

José Roberto Beraldo
CFO and Investor Relations Officer

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