Investor Relations

Zapata Corporation Adjourns 2009 Annual Shareholders Meeting


ROCHESTER, N.Y.--(BUSINESS WIRE)--Jun. 3, 2009-- Zapata Corporation (NYSE: ZAP) announced today that its 2009 Annual Meeting of Stockholders, originally scheduled for 10:00 am Eastern time today, was adjourned due to the fact that there were not adequate shares present at the meeting, either represented in person or by proxies previously received by Zapata, to establish the quorum required to proceed with the meeting. No business was transacted prior to the adjournment. The Company has not yet set a new date for its 2009 Annual Meeting. The Company expects to postpone the Annual Meeting of Stockholders to a date to be subsequently announced.

About Zapata:

Zapata is a holding company which has approximately $153.9 million in consolidated cash, cash equivalents and short-term investments as of March 31, 2009and owns 98% of Zap.Com Corporation (OTBB: ZPCM), which is a public shell company. The Company is currently searching for candidates for acquisition.

The Company makes certain reports available free of charge on its website at as soon as reasonably practicable after this information is electronically filed, or furnished to, the United States Securities and Exchange Commission.

“Safe Harbor” Statement Under the Private Securities Litigation Reform Act of 1995: The statements contained in this press release which are not historical fact are forward-looking statements based upon management's current expectations that are subject to risks, and uncertainties that could cause actual results, events and developments to differ materially from those set forth in or implied by forward-looking statements. Forward-looking statements, which are based upon certain assumptions and describe future plans, strategies and expectations of the Company, are generally identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “plans,” “seeks,” “estimates,” “projects,” “may” or similar expressions. Factors that could cause actual results, events and developments to differ include, without limitation, the risk that we may not be successful in identifying any suitable future acquisition opportunities and those factors listed under the caption “Risk Factors” in the Company's Annual Report on Form 10-K for the year ended December 31, 2008. All forward-looking statements made herein are qualified by these cautionary statements and there can be no assurance that the actual results, events or developments referenced herein will occur or be realized. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operation results.



Source: Zapata Corporation

Zapata Corporation
Leonard DiSalvo, 585-242-8703

Safe Harbor Disclaimer

Certain matters discussed herein, with the exception of historical matters, are forward-looking statements which involve risks and uncertainties. Actual results may differ materially from these statements as a result of changes in external competitive market factors, unanticipated changes in the company's industry, or the economy in general, as well as various other factors, including those discussed herein and those set forth in the Company's most recent Annual Report on Form 10-K.

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