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Material Fact: Oi Announces Change in Management

               Material Fact: Oi Announces Change in Management

PR Newswire

RIO DE JANEIRO, June 20, 2013

RIO DE JANEIRO, June 20, 2013 /PRNewswire/ -- Oi S.A. ("Oi"), pursuant to art.
157, §4, of Law No. 6,404/76, and in accordance with CVM Instruction No.
358/02 and best corporate governance practices, notifies its shareholders and
the market in general of the departure of its Chief Financial (CFO) and
Investor Relations Officer, Mr. Alex Zornig, and its Chief Operating Officer
(COO), Mr. James Meaney.

Mr. Bayard Gontijo, Treasury Director, will serve as interim Chief Financial
and Investor Relations Officer until the position is permanently filled.

Investor Relations Department
Oi S.A.

SOURCE Oi S.A.

Contact: Michelle Costa, +55 (21) 3131-2918, michelle.costa@oi.net.br
 
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