<PAGE>
SCHEDULE III
(CONCLUDED)
ZAPATA CORPORATION
(PARENT COMPANY ONLY)
NOTES TO CONDENSED FINANCIAL STATEMENTS
NOTE 1. LONG-TERM OBLIGATION
Zapata Corporation leases office space in accordance with an agreement that
expires in August 2002. Annual payments are approximately $480,000 until August
31, 1997 and approximately $629,000 thereafter.
NOTE 2. ANNUAL MATURITIES OF LONG-TERM DEBT
The annual maturities of long-term debt for the five years ending September
30, 1999 are as follows (in thousands):
<TABLE>
<CAPTION>
1995 1996 1997 1998 1999
---- ------- ------- ---- ----
<S> <C> <C> <C> <C>
$ -- $17,500 $15,621 $ -- $ --
</TABLE>
This condensed statement should be read in conjunction with the
Consolidated Financial Statements and Notes thereto which are included in Item
8 herein.
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