PRELIMINARY COPY--FOR THE INFORMATION OF THE
SECURITIES AND EXCHANGE COMMISSION ONLY.
[LETTERHEAD OF ZAPATA CORPORATION APPEARS HERE]
November 10, 1995
To Our Stockholders:
You are cordially invited to attend a Special Meeting of Stockholders of
Zapata Corporation (the "Company") to be held on December 12, 1995, at 10:00
a.m., local time, at the Omni Hotel, 4 Riverway, Houston, Texas, 77056.
At the Special Meeting, stockholders will be asked to consider and vote upon
the approval of the sale of the Company's natural gas compression business
conducted by its wholly owned subsidiaries, Energy Industries, Inc. and Zapata
Energy Industries, L.P., to Weatherford Enterra, Inc., all as more fully
described in the accompanying Proxy Statement.
A description of the proposed sale transaction and other important
information is included in the accompanying Proxy Statement.
The proposed sale transaction is an important component of the Company's
strategic plan to exit the energy business and transform the Company into a
food services company. THE BOARD OF DIRECTORS OF THE COMPANY RECOMMENDS THAT
STOCKHOLDERS VOTE FOR THE SALE PROPOSAL.
Whether or not you plan to attend the Special Meeting, we ask that you
indicate the manner in which you wish your shares to be voted and sign and
return your proxy as promptly as possible in the enclosed envelope so that your
vote may be recorded. You may vote your shares in person if you attend the
Special Meeting, even if you send in your proxy.
I appreciate your continued interest in the Company.
Avram A. Glazer
President and Chief Executive