If you want to set up just a separate account for Contacts or your available 'Contacts' account could not be found using the Automatic setup, you can definitely set it up manually.

First of all, go to Menu > Accounts, and click on the + Add account button. Skip the Automatic setup and click the Contacts section instead.

Select the option that applies to your existing Calendar account and click Next to finish the setup.

Note: If you don't have an online contacts account but would want to have one to synchronize your contacts online to your other devices, you can register an account for free on some of these services - for example, Fruux provides a free option to synchronize just your Calendars and Contacts.