UNIVERSO ONLINE S.A.

Public-Held Company

Corporate Taxpayer’s ID (CNPJ/MF) 01.109.184/0001-95

Company Registry (NIRE) 35.300.198.107

MATERIAL FACT

Universo Online S.A. (“UOL”), in compliance with CVM Instruction 358/02 and CVM Instruction 361/02, as amended, informs its shareholders and the market that the Company received a letter, subscribed by the holders of more than 10% of UOL’s outstanding shares, requesting the summoning of a Special Shareholders’ Meeting to resolve on an eventual new evaluation of the Company set for the Public Offer for the Acquisition of UOL’s outstanding shares, aimed at the cancellation of its publicly-held company registration, pursuant to the provisions of article 24 of CVM Instruction

361/02.

Said letter was submitted to UOL’s Board of Director’s appreciation for further provisions. UOL will maintain the market informed should any additional information on this matter come up.

São Paulo, September 15, 2011

Eduardo AlcaroInvestor Relations Officer