<PAGE>
ZAPATA CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS -- (CONTINUED)
NOTE 3. ACCOUNTS RECEIVABLE
Accounts receivable as of December 31, 2001 and 2000 are summarized as
follows:
<Table>
<Caption>
DECEMBER 31, DECEMBER 31,
2001 2000
------------ ------------
(IN THOUSANDS)
<S> <C> <C>
Trade....................................................... $ 6,265 $ 6,745
Insurance................................................... 290 975
Employee.................................................... 37 43
Income tax.................................................. 15,595 2,401
Other....................................................... 500 2,025
------- -------
22,687 12,189
Less: Allowance for doubtful accounts....................... (260) (218)
------- -------
$22,427 $11,971
======= =======
</Table>
NOTE 4. INVENTORIES
Inventories as of December 31, 2001 and 2000 are summarized as follows:
<Table>
<Caption>
DECEMBER 31, DECEMBER 31,
2001 2000
------------ ------------
(IN THOUSANDS)
<S> <C> <C>
Fish meal................................................... $19,221 $19,474
Fish oil.................................................... 9,128 7,590
Fish solubles............................................... 789 938
Off season cost............................................. 4,127 3,982
Materials and supplies...................................... 4,405 5,048
------- -------
Total inventory............................................. $37,670 $37,032
======= =======
</Table>
During 2001, Omega Protein incurred no significant write-downs of its
inventory. During 2000 and 1999, Omega Protein provided $18.1 million and $18.2
million, respectively, in write-downs of the value of its fish meal and fish oil
product inventories produced during each of those fishing seasons. The inventory
write-downs were made necessary due to market prices Omega Protein either
received or expected to receive for its products having declined to a level
below Omega's cost basis in those products.
NOTE 5. SHORT-TERM INVESTMENTS
Short-term investments as of December 31, 2001 and 2000 are summarized as
follows:
<Table>
<Caption>
DECEMBER 31, DECEMBER 31,
2001 2000
------------ ------------
(IN THOUSANDS)
<S> <C> <C>
Federal National Mortgage Association Discount Note......... $10,886 $25,599
Federal Home Loan Mortgage Corporation Discount Note........ 20,857 --
Federal Home Loan Bank Discount Note........................ 1,712 29,465
Commercial Paper............................................ 493 --
Time Deposit CD............................................. -- 320
------- -------
$33,948 $55,384
======= =======
</Table>
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