<PAGE>
 
             ZAPATA HAYNIE CORPORATION PROFIT-SHARING/SAVINGS PLAN
             -----------------------------------------------------

              STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS
              ---------------------------------------------------

                               SEPTEMBER 30, 1992
                               ------------------

<TABLE>
<CAPTION>
 
 
                                                       Money Market/              Zapata
                                                        Guaranteed      Fixed     Common
                                            Equity      Investment     Income     Stock      Loan
                                             Fund      Contract Fund    Fund       Fund      Fund       Total
                                           ----------  -------------  ---------  --------  --------  -----------
<S>                                        <C>          <C>            <C>        <C>       <C>       <C>

ASSETS:
   Investment in Zapata         
    Corporation Master                       
    Profit-Sharing Trust -         
    Schedule I (Exhibit 1)                 $1,178,692     $2,855,128   $119,327   $64,706  $      -   $4,217,853
 
   Contributions receivable-
    Employee                                    6,024          9,021        977       462         -       16,484
    Employer                                    4,901        391,737        798       404         -      397,840
    Loans to participants                           -              -          -         -    65,956       65,956
                                           ----------     ----------   --------   -------   -------   ----------
                                            1,189,617      3,255,886    121,102    65,572    65,956    4,698,133
                                           ----------     ----------   --------   -------   -------   ----------
 
LIABILITIES:
   Refunds payable to               
    participants                               27,514         11,368      1,366       781         -       41,029
                                           ----------     ----------   --------   -------   -------   ---------- 
NET ASSETS AVAILABLE FOR PLAN              
 BENEFITS                                  $1,162,103     $3,244,518   $119,736   $64,791   $65,956   $4,657,104
                                           ==========     ==========   ========   =======   =======   ==========
</TABLE>

   The accompanying notes are an integral part of these financial statements.

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