<PAGE>   12
                                  SCHEDULE III
                                       TO
                            ESCROW DEPOSIT AGREEMENT
                            ------------------------




         1.      The following share certificates aggregating 2,500,000 shares
of Zapata Corporation common stock, par value $0.25 per share:

         (a)     Certificate No. ZC3883 representing 500,000 Shares registered
                 in the name of the Malcolm Glazer Trust under agreement dated
                 March 23, 1990.

         (b)     Certificate No. ZC3884 representing 500,000 Shares registered
                 in the name of Malcolm Glazer Trust under agreement dated
                 March 23, 1990.

         (c)     Certificate No. ZC3885 representing 500,000 Shares registered
                 in the name of the Malcolm Glazer Trust under agreement dated
                 March 23, 1990.


         (d)     Certificate No. ZC3886 representing 500,000 Shares registered
                 in the name of the Malcolm Glazer Trust under agreement dated
                 March 23, 1990.

         (e)     Certificate No. ZC3887 representing 500,000 Shares registered
                 in the name of the Malcolm Glazer Trust under agreement dated
                 March 23, 1990.

         2.      Undated Stock Powers executed in blank by Malcolm I. Glazer as
Trustee of the Malcolm Glazer Trust under agreement dated March 23, 1990 for
Certificates No. ZC3883, ZC3884, ZC3885, ZC3886 and ZC3887.





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