ZAPATA REPURCHASES 7% OF FOR IMMEDIATE RELEASE
ITS OUTSTANDING COMMON SHARES APRIL 13, 1995
NEWS [LOGO OF ZAPATA APPEARS HERE]
P.O. BOX 4240 - HOUSTON, TEXAS 77210
HOUSTON--Zapata Corporation announced today that it has repurchased 2.25 million
shares of Zapata's common stock from Norex America, Inc. $4.00 per share. The
shares being repurchased by Zapata represent 7% of the Company's outstanding
common stock. Concurrent with this transaction Mr. Kristian Siem, Chairman and
Chief Executive Officer of Norex America, Inc., is resigning from Zapata's Board
of Directors. Following the repurchase of the shares, Zapata will have 29.5
million shares outstanding.
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Mark Frank, Planning Manager Richard Stern, Stern & Co.
(713) 940-6175 FAX (713) 940-6111 (212) 777-7722 FAX (212) 777-9025