Harbinger Group Inc.
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HRG GROUP, INC. filed this Form 8-K on 08/19/1994
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                            Washington, D.C. 20549


                                   FORM 8-K

                                CURRENT REPORT

                    PURSUANT TO SECTION 13 OR 15(d) OF THE
                        SECURITIES EXCHANGE ACT OF 1934


Date of Report: August 18, 1994

                              ZAPATA CORPORATION
            (Exact name of registrant as specified in its charter)

           Delaware                    1-4219                    C-74-1339132
(State or other jurisdiction     (Commission File No.)        (I.R.S. Employee
      of incorporation)                                      Identification No.)

           P.O. Box 4240                                          
           Houston, Texas                                          77210-4240
(Address of principal executive offices)                           (Zip Code)

                                (713) 940-6100
             (Registrant's telephone number, including area code)

                                Not Applicable
         (Former name or former address, if changed since last report)


Item 5.  Other Events

    The information set forth in the press release issued by Zapata Corporation 
on August 18, 1994 and filed as Exhibit 99(a) hereto is incorporated by 

Item 7.  Financial Statements and Exhibits

    (c) Exhibits


<C>               <S> 
 Exhibit 99(a)    --Press Release of Zapata Corporation issued on August 18, 




    Pursuant to the requirements of the Securities Exchange Act of 1934, the 
registrant has duly caused this report to be signed on its behalf by the 
undersigned hereunto duly authorized.

                                         ZAPATA CORPORATION

Date: August 18, 1994                    By:  /s/ Marvin J. Migura
                                            Marvin J. Migura,
                                            Senior Vice President and
                                            Chief Financial Officer



                                                                   EXHIBIT 99(a)

PROGRAM; ANNOUNCES NEW CHIEF                              August 18, 1994

                               CORPORATE AFFAIRS
                     P.O. BOX 4240 . HOUSTON, TEXAS 77210

HOUSTON-Zapata Corporation announced the initiation of a stock repurchase plan
for holders of less than 100 shares of Zapata common stock. Zapata is offering 
to purchase these shares at a $1.00 premium to the average of the prevailing 
market prices during the period of the offer.

   Stockholders who own Zapata shares in their name (holders of record) will be 
able to sell the shares directly to the Company without paying commissions. 
Stockholders who own Zapata shares in their brokerage accounts (in street 
names), however, may be required to pay a sales commission to their brokers.

  The 1 for 5 reverse stock split implemented in May significantly increased 
the number of stockholders owning a relatively small number of shares. Given the
incremental cost of communicating with each stockholder, it is economical for
Zapata to purchase the shares in the smaller accounts. At a per share price of
$4.50, the stock is trading at approximately eighty percent of the book value

  The offer, for stockholders as of August 15, 1994, will expire on October 3, 
1994. Interested stockholders should call The First National Bank of Boston at 
(800) 442-2001 for additional information.

  The Company also announced today that Malcolm I. Glazer was elected Chief 
Executive Officer and President of the Company. Kristian Siem was elected to the
position of Chief Operating Officer. Joseph L. von Rosenberg III, 35, was 
elected as Vice President and General Counsel of the Company. Mr. von Rosenberg
is a graduate of the Tulane University School of Law and Clemson University.
Donald T. Locke, 36, was elected Associate General Counsel and Corporate
Secretary of the Company. Mr. Locke is a graduate of The University of South
Carolina School of Law and Furman University.

  Zapata Corporation (NYSE symbol: ZOS) is a Houston-based international 
company primarily involved in natural gas services. Zapata rents, fabricates and
services natural gas compression packages and gathers and processes natural gas.
Zapata also produces natural gas and marine protein products.


CONTACTS:  Marvin Migura--Senior Vice President and Chief Financial Officer
           (713) 940-6117

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