Harbinger Group Inc.
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SEC Filings

PRER14A
HRG GROUP, INC. filed this Form PRER14A on 11/14/1995
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                    REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
 
To the Stockholders and Board of Directors,
Zapata Corporation:
 
  We have audited the balance sheet of Zapata Corporation (a Delaware
corporation) and subsidiary companies as of September 30, 1993, and the related
income statement, statement of cash flows and reinvested earnings (deficit) and
capital in excess of par value for each of the two years in the period ended
September 30, 1993 prior to the restatement (and, therefore, are not presented
herein) for discontinued operations as described in Note 2 to the restated
financial statements. These financial statements are the responsibility of the
Company's management. Our responsibility is to express an opinion on these
financial statements based on our audits.
 
  We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of
material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements. An audit
also includes assessing the accounting principles used and the significant
estimates made by management, as well as evaluating the overall financial
statement presentation. We believe that our audits provide a reasonable basis
for our opinion.
 
  In our opinion, the financial statements referred to above present fairly, in
all material respects, the financial position of Zapata Corporation and
subsidiary companies as of September 30, 1993, and the results of their
operations and their cash flows for each of the two years in the period ended
September 30, 1993, in conformity with generally accepted accounting
principles.
 
 
                                          Arthur Andersen LLP
 
Houston, Texas
December 17, 1993

 
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