<PAGE>
<TABLE>
<CAPTION>
PAYMENTS DUE BY PERIOD
----------------------------------------------------------------------
ZAPATA CORPORATE Less than 1 to 3 4 to 5 After 5
CONTRACTUAL CASH OBLIGATIONS Total 1 year years years Years
---------------------------- ----- ------ ----- ----- -----
<S> <C> <C> <C> <C> <C>
Operating Leases $ 631 $ 186 $ 445 $ -- $ --
Minimum Pension Liability 201 -- -- -- 201
---------- ---------- ---------- ---------- ----------
Total Contractual Cash Obligations $ 832 $ 186 $ 445 $ -- $ 201
========== ========== ========== ========== ==========
</TABLE>
Zapata's management believes that these liabilities have no material impact on
Zapata Corporate's liquidity and capital resources. As of the date of this
report, Zapata Corporate had no other commercial commitments which may impact
its capital resources and liquidity.
In the absence of unforeseen developments, Zapata believes that it has
sufficient liquidity to fund its operating expenses and other operational
requirements at least for the 12 months following the date of this report.
SUMMARY OF CASH FLOWS
The following table summarizes Zapata's consolidated cash flow information (in
thousands):
<TABLE>
<CAPTION>
THREE MONTHS ENDED THREE MONTHS ENDED
MARCH 31, MARCH 31,
ZAPATA CONSOLIDATED 2002 2001
------------------- ---- ----
<S> <C> <C>
CASH PROVIDED BY (USED IN)
Operating activities ............................... $ 9,462 $ 9,067
Investing activities ............................... (12,340) 41,802
Financing activities ............................... (353) (299)
---------- ----------
Net increase (decrease) in cash and cash equivalents $ (3,231) $ 50,570
========== ==========
</TABLE>
Net cash provided by operating activities
Consolidated cash provided by operating activities increased slightly during the
three months ended March 31, 2002 as compared to the same period in the prior
year. The modest increase was primarily due to Omega Protein's generation of net
income during the quarter.
Net cash (used in) provided by investing activities
Consolidated cash used in investing activities decreased during the three months
ended March 31, 2002 as compared to the same period in the prior year.
Variations in Zapata Corporate's net cash (used in) provided by investing
activities are typically the result of the change in the mix of cash and cash
equivalents and short and long-term investments during the period. All highly
liquid investments with original maturities of three months or less are
considered to be cash equivalents and all investments with original maturities
of greater than three months are classified as either short or long-term
investments. Accordingly, the decrease was primarily due to the increase in
purchases of short-term investments during the quarter as compared to the same
period in the prior year, and the purchase of long-term investments during the
current quarter.
Net cash used in financing activities
Consolidated cash used in financing activities increased slightly during the
three months ended March 31, 2002 as compared to the same period in the prior
year. The modest increase was primarily due to an increase in Omega Protein's
repayments of long-term obligations during the quarter as compared to the same
period in the prior year.
Because Zapata's cash management activities are separate and distinct from those
of Omega Protein and Zap.Com, it is useful to separately review Zapata
Corporate's cash flows separately. The following table summarizes this cash flow
information (in thousands):
13
