SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                  SCHEDULE 13G
                                 (Rule 13d-102)

           INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
            RULES 13d-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED
                           PURSUANT TO RULE 13d-2(b)




                               ZAPATA CORPORATION
    -----------------------------------------------------------------------
                                (Name of Issuer)


                                  Common Stock
      ---------------------------------------------------------------------
                         (Title of Class of Securities)


                                    989070602
     ----------------------------------------------------------------------
                                 (CUSIP Number)


                                  June 13, 2003
     ----------------------------------------------------------------------
             (Date of Event Which Requires Filing of this Statement)


Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

                  Rule 13d-1(b) [ ]
                  Rule 13d-1(c) [X]
                  Rule 13d-1(d) [ ]


CUSIP No.                             13G                       Page 2 of 24
989070602

   1    NAME OF REPORTING PERSONS
        I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

        Sandler Capital Management


   2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP        (a) [  ]
                                                                (b) [  ]

   3    SEC USE ONLY


   4    CITIZENSHIP OR PLACE OF ORGANIZATION

        New York

                  5    SOLE VOTING POWER

                       0
 NUMBER OF
   SHARES         6    SHARED VOTING POWER
BENEFICIALLY
 OWNED BY              131,500
   EACH
 REPORTING        7    SOLE DISPOSITIVE POWER
PERSON WITH
                       0

                  8    SHARED DISPOSITIVE POWER

                       131,500

   9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

        131,500 shares of Common Stock


   10   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
        CERTAIN SHARES                                                 [  ]


   11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

        5.5%

   12   TYPE OF REPORTING PERSON

        PN



CUSIP No.                             13G                       Page 3 of 24
989070602

   1    NAME OF REPORTING PERSONS
        I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

        Sandler Associates


   2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP        (a) [  ]
                                                                (b) [  ]

   3    SEC USE ONLY


   4    CITIZENSHIP OR PLACE OF ORGANIZATION

        New York

                  5    SOLE VOTING POWER

                       92,163
 NUMBER OF
   SHARES         6    SHARED VOTING POWER
BENEFICIALLY
 OWNED BY              0
   EACH
 REPORTING        7    SOLE DISPOSITIVE POWER
PERSON WITH
                       92,163

                  8    SHARED DISPOSITIVE POWER

                       0

   9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

        92,163 shares of Common Stock


   10   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
        CERTAIN SHARES                                                 [  ]


   11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

        3.8%

   12   TYPE OF REPORTING PERSON

        PN



CUSIP No.                             13G                       Page 4 of 24
989070602

   1    NAME OF REPORTING PERSONS
        I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

        Sandler Associates II, L.P.


   2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP        (a) [  ]
                                                                (b) [  ]

   3    SEC USE ONLY


   4    CITIZENSHIP OR PLACE OF ORGANIZATION

        New York

                  5    SOLE VOTING POWER

                       4,273
 NUMBER OF
   SHARES         6    SHARED VOTING POWER
BENEFICIALLY
 OWNED BY              0
   EACH
 REPORTING        7    SOLE DISPOSITIVE POWER
PERSON WITH
                       4,273

                  8    SHARED DISPOSITIVE POWER

                       0

   9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

        4,273 shares of Common Stock


   10   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
        CERTAIN SHARES                                                 [  ]


   11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

        0.2%

   12   TYPE OF REPORTING PERSON

        PN



CUSIP No.                             13G                       Page 5 of 24
989070602

   1    NAME OF REPORTING PERSONS
        I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

        Sandler Offshore Fund, Inc.


   2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP        (a) [  ]
                                                                (b) [  ]

   3    SEC USE ONLY


   4    CITIZENSHIP OR PLACE OF ORGANIZATION

        British Virgin Islands

                  5    SOLE VOTING POWER

                       35,064
 NUMBER OF
   SHARES         6    SHARED VOTING POWER
BENEFICIALLY
 OWNED BY              0
   EACH
 REPORTING        7    SOLE DISPOSITIVE POWER
PERSON WITH
                       35,064

                  8    SHARED DISPOSITIVE POWER

                       0

   9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

        35,064 shares of Common Stock


   10   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
        CERTAIN SHARES                                                 [  ]


   11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

        1.5%

   12   TYPE OF REPORTING PERSON

        CO



CUSIP No.                             13G                       Page 6 of 24
989070602

   1    NAME OF REPORTING PERSONS
        I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

        MJDM Corp.


   2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP        (a) [  ]
                                                                (b) [  ]

   3    SEC USE ONLY


   4    CITIZENSHIP OR PLACE OF ORGANIZATION

        New York

                  5    SOLE VOTING POWER

                       0
 NUMBER OF
   SHARES         6    SHARED VOTING POWER
BENEFICIALLY
 OWNED BY              131,500
   EACH
 REPORTING        7    SOLE DISPOSITIVE POWER
PERSON WITH


                  8    SHARED DISPOSITIVE POWER

                       131,500

   9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

        131,500 shares of Common Stock


   10   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
        CERTAIN SHARES                                                 [  ]


   11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

        5.5%

   12   TYPE OF REPORTING PERSON

        CO



CUSIP No.                             13G                       Page 7 of 24
989070602

   1    NAME OF REPORTING PERSONS
        I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

        Four JK Corp.


   2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP        (a) [  ]
                                                                (b) [  ]

   3    SEC USE ONLY


   4    CITIZENSHIP OR PLACE OF ORGANIZATION

        Delaware

                  5    SOLE VOTING POWER

                       0
 NUMBER OF
   SHARES         6    SHARED VOTING POWER
BENEFICIALLY
 OWNED BY              131,500
   EACH
 REPORTING        7    SOLE DISPOSITIVE POWER
PERSON WITH
                       0

                  8    SHARED DISPOSITIVE POWER

                       131,500

   9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

        131,500 shares of Common Stock


   10   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
        CERTAIN SHARES                                                 [  ]


   11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

        5.5%

   12   TYPE OF REPORTING PERSON

        CO



CUSIP No.                             13G                       Page 8 of 24
989070602

   1    NAME OF REPORTING PERSONS
        I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

        ALCR Corp.


   2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP        (a) [  ]
                                                                (b) [  ]

   3    SEC USE ONLY


   4    CITIZENSHIP OR PLACE OF ORGANIZATION

        New York

                  5    SOLE VOTING POWER

                       0
 NUMBER OF
   SHARES         6    SHARED VOTING POWER
BENEFICIALLY
 OWNED BY              131,500
   EACH
 REPORTING        7    SOLE DISPOSITIVE POWER
PERSON WITH
                       0

                  8    SHARED DISPOSITIVE POWER

                       131,500

   9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

        131,500 shares of Common Stock


   10   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
        CERTAIN SHARES                                                 [  ]


   11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

        5.5%

   12   TYPE OF REPORTING PERSON

        CO



CUSIP No.                             13G                       Page 9 of 24
989070602

   1    NAME OF REPORTING PERSONS
        I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

        Andrew Sandler


   2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP        (a) [  ]
                                                                (b) [  ]

   3    SEC USE ONLY


   4    CITIZENSHIP OR PLACE OF ORGANIZATION

        United States

                  5    SOLE VOTING POWER

                       0
 NUMBER OF
   SHARES         6    SHARED VOTING POWER
BENEFICIALLY
 OWNED BY              131,500
   EACH
 REPORTING        7    SOLE DISPOSITIVE POWER
PERSON WITH
                       0

                  8    SHARED DISPOSITIVE POWER

                       131,500

   9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

        131,500 shares of Common Stock


   10   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
        CERTAIN SHARES                                                 [  ]


   11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

        5.5%

   12   TYPE OF REPORTING PERSON

        IN



CUSIP No.                             13G                       Page 10 of 24
989070602

   1    NAME OF REPORTING PERSONS
        I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

        Michael J. Marocco


   2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP        (a) [  ]
                                                                (b) [  ]

   3    SEC USE ONLY


   4    CITIZENSHIP OR PLACE OF ORGANIZATION

        United States

                  5    SOLE VOTING POWER

                       0
 NUMBER OF
   SHARES         6    SHARED VOTING POWER
BENEFICIALLY
 OWNED BY              131,500
   EACH
 REPORTING        7    SOLE DISPOSITIVE POWER
PERSON WITH
                       0

                  8    SHARED DISPOSITIVE POWER

                       131,500

   9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

        131,500 shares of Common Stock


   10   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
        CERTAIN SHARES                                                 [  ]


   11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

        5.5%

   12   TYPE OF REPORTING PERSON

        IN



CUSIP No.                             13G                       Page 11 of 24
989070602

   1    NAME OF REPORTING PERSONS
        I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

        John Kornreich


   2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP        (a) [  ]
                                                                (b) [  ]

   3    SEC USE ONLY


   4    CITIZENSHIP OR PLACE OF ORGANIZATION

        United States

                  5    SOLE VOTING POWER

                       0
 NUMBER OF
   SHARES         6    SHARED VOTING POWER
BENEFICIALLY
 OWNED BY              131,500
   EACH
 REPORTING        7    SOLE DISPOSITIVE POWER
PERSON WITH
                       0

                  8    SHARED DISPOSITIVE POWER

                       131,500

   9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

        131,500 shares of Common Stock


   10   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
        CERTAIN SHARES                                                 [  ]


   11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

        5.5%

   12   TYPE OF REPORTING PERSON

        IN



CUSIP No.                             13G                       Page 12 of 24
989070602


SCHEDULE 13G
- ------------


Item 1.

     (a)          Name of Issuer: Zapata Corporation

     (b)          Address of Issuer's Principal Executive Offices: 100
                     Meridian Centre, Suite 350
                               Rochester, NY 14618

Item 2.

1.   (a)          Name of Person Filing: Sandler Capital Management

     (b)          Address of Principal Business Office, or, if none, Residence:
                  767 Fifth Avenue
                  New York, New York 10153

     (c)          Citizenship or Place of Organization:
                  Sandler Capital Management is a registered investment
                  advisor and general partnership organized under the laws of
                  the State of New York.

     (d)          Title of Class of Securities:  Common Stock, $0.01 par value

     (e)          CUSIP Number: 989070602

2.   (a)          Name of Person Filing: Sandler Associates
                  ("Sandler Associates")

     (b)          Address of Principal Business Office, or, if none, Residence:
                  767 Fifth Avenue
                  New York, New York 10153

     (c)          Citizenship or Place of Organization:
                  Sandler Associates is a limited partnership organized under
                  the laws of the State of New York.

     (d)          Title of Class of Securities:  Common Stock, $0.01 par value

     (e)          CUSIP Number: 989070602

3.   (a)          Name of Person Filing:  Sandler Associates II, L.P.
                  ("Sandler Associates II")




CUSIP No.                             13G                       Page 13 of 24
989070602

     (b)          Address of Principal Business Office, or, if none, Residence:
                  767 Fifth Avenue
                  New York, New York 10153

     (c)          Citizenship or Place of Organization:
                  Sandler Associates II is a limited partnership organized
                  under the laws of the State of New York.

     (d)          Title of Class of Securities:  Common Stock, $0.01 par value

     (e)          CUSIP Number: 989070602

4.   (a)          Name of Person Filing: Sandler Offshore Fund, Inc.
                  ("Sandler Offshore")

     (b)          Address of Principal Business Office, or, if none, Residence:
                  767 Fifth Avenue
                  New York, New York 10153

     (c)          Citizenship or Place of Organization:
                  Sandler Offshore is a corporation organized under the laws
                  of the British Virgin Islands.

     (d)          Title of Class of Securities:  Common Stock, $0.01 par value

     (e)          CUSIP Number: 989070602

5.   (a)          Name of Person Filing: MJDM Corp.

     (b)          Address of Principal Business Office, or, if none, Residence:
                  767 Fifth Avenue
                  New York, New York 10153

     (c)          Citizenship or Place of Organization:
                  MJDM Corp. is a corporation organized under the laws of the
                  State of New York.

     (d)          Title of Class of Securities:  Common Stock, $0.01 par value

     (e)          CUSIP Number: 989070602

6.   (a)          Name of Person Filing: Four JK Corp.

     (b)          Address of Principal Business Office, or, if none, Residence:
                  767 Fifth Avenue New York, New York 10153


CUSIP No.                             13G                       Page 14 of 24
989070602

     (c)          Citizenship or Place of Organization:
                  Four JK Corp. is a corporation organized under the laws of
                  the State of Delaware.

     (d)          Title of Class of Securities:  Common Stock, $0.01 par value

     (e)          CUSIP Number: 989070602

7.   (a)          Name of Person Filing: ALCR Corp.

     (b)          Address of Principal Business Office, or, if none, Residence:
                  767 Fifth Avenue
                  New York, New York 10153

     (c)          Citizenship or Place of Organization:
                  ALCR Corp. is a corporation organized under the laws of the
                  State of New York.

     (d)          Title of Class of Securities:  Common Stock, $0.01 par value

     (e)          CUSIP Number: 989070602

8.   (a)          Name of Person Filing: Andrew Sandler

     (b)          Address of Principal Business Office, or, if none, Residence:
                  767 Fifth Avenue
                  New York, New York 10153

     (c)          Citizenship or Place of Organization: United States
     (d)          Title of Class of Securities:  Common Stock, $0.01 par value

     (e)          CUSIP Number: 989070602

9.   (a)          Name of Person Filing: Michael J. Marocco

     (b)          Address of Principal Business Office, or, if none, Residence:
                  767 Fifth Avenue
                  New York, New York 10153

     (c)          Citizenship or Place of Organization: United States

     (d)          Title of Class of Securities:  Common Stock, $0.01 par value

     (e)          CUSIP Number: 989070602



CUSIP No.                             13G                       Page 15 of 24
989070602


10. (a)           Name of Person Filing: John Kornreich

     (b)          Address of Principal Business Office, or, if none, Residence:
                  767 Fifth Avenue
                  New York, New York 10153

     (c)          Citizenship or Place of Organization: United States

     (d)          Title of Class of Securities:  Common Stock, $0.01 par value

     (e)          CUSIP Number: 989070602

Item 3.           If This Statement is Filed Pursuant to Rule 13d-1(b), or
                  13d-2(b) or (c), Check Whether the Person Filing is a:

                  Not applicable.

Item 4.           Ownership.

                  Provide the following information regarding the aggregate
                  number and percentage of the class of securities of the
                  issuer identified in Item 1.

                  1.   Sandler Capital Management:

                  (a)  Amount beneficially owned:  131,500(1)(2) shares of
                       Common Stock, $0.01 cents par value, of Zapata
                       Corporation.  Reporting Person is managed by a committee
                       (the "Management Committee") consisting of the principal
                       stockholders of ALCR Corp., MJDM Corp., and Four JK Corp.
                       (Andrew Sandler, Michael J. Marocco and John Kornreich).
                       All decisions regarding Sandler Associates, Sandler
                       Associates II and Sandler Offshore's investment in the
                       securities of the Issuer require the consent of the
                       Management Committee.  Sandler Capital Management is the
                       investment advisor of Sandler Associates, Sandler
                       Associates II and Sandler Offshore.

                  (b)  Percent of class: 5.5%

                  (c)  Number of shares as to which the person has:

                       (i) Sole power to vote or to direct the vote:  0 shares

                       (ii)   Shared power to vote or to direct the vote:
                              131,500(1)(2) shares

                       (iii)  Sole power to dispose or to direct the disposition
                              of: 0 shares


CUSIP No.                             13G                       Page 16 of 24
989070602

                       (iv)  Shared power to dispose or to direct the
                             disposition of: 131,500(1)(2) shares

                  2.   Sandler Associates:

                  (a)  Amount beneficially owned:  92,163 shares of Common
                       Stock, $0.01 par value, of Zapata Corporation.

                  (b)  Percent of class: 3.8%

                  (c)  Number of shares as to which the person has:

                       (i)    Sole power to vote or to direct the vote:
                              92,163 shares

                       (ii)   Shared power to vote or to direct the vote:
                              0 shares

                       (iii)  Sole power to dispose or to direct the disposition
                              of: 92,163 shares

                       (iv)   Shared power to dispose or to direct the
                              disposition of: 0 shares

                  3.   Sandler Associates II, L.P.:

                  (a)  Amount beneficially owned:  4,273 shares of Common Stock,
                       $0.01 par value, of Zapata Corporation.

                  (b)  Percent of class: 0.2%

                  (c)  Number of shares as to which the person has:

                       (i)    Sole power to vote or to direct the vote:
                              4,273 shares

                       (ii)   Shared power to vote or to direct the vote:
                              0 shares

                       (iii)  Sole power to dispose or to direct the disposition
                              of: 4,273 shares

                       (iv)   Shared power to dispose or to direct the
                              disposition of: 0 shares

                  4.   Sandler Offshore Fund, Inc.

                  (a)  Amount beneficially owned:  35,064 shares of Common
                       Stock, $0.01 par value, of Zapata Corporation.



CUSIP No.                             13G                       Page 17 of 24
989070602

                  (b)  Percent of class: 1.5%

                  (c)  Number of shares as to which the person has:

                       (i)    Sole power to vote or to direct the vote:
                              35,064 shares

                       (ii)   Shared power to vote or to direct the vote:
                              0 shares

                       (iii)  Sole power to dispose or to direct the disposition
                              of: 35,064 shares

                       (iv)   Shared power to dispose or to direct the
                              disposition of: 0 shares

                  5.   ALCR Corp.:

                  (a)  Amount beneficially owned: 131,500(1)(2) shares of Common
                       Stock, $0.01 par value, of Zapata Corporation. Reporting
                       Person is a general partner of Sandler Capital
                       Management, which is the investment advisor of Sandler
                       Associates, Sandler Associates II and Sandler Offshore.

                  (b)  Percent of class: 5.5%

                  (c)  Number of shares as to which the person has:

                       (i)    Sole power to vote or to direct the vote:
                              0 shares

                       (ii)   Shared power to vote or to direct the vote:
                              131,500(1)(2) shares

                       (iii)  Sole power to dispose or to direct the disposition
                              of: 0 shares

                       (iv)   Shared power to dispose or to direct the
                              disposition of: 131,500(1)(2) shares

                  6.   MJDM Corp.:

                  (a)  Amount beneficially owned: 131,500(1)(2) shares of Common
                       Stock, $0.01 par value, of Zapata Corporation. Reporting
                       Person is a general partner of Sandler Capital
                       Management, which is the investment advisor of Sandler
                       Associates, Sandler Associates II and Sandler Offshore.

                  (b)  Percent of class: 5.5%


CUSIP No.                             13G                       Page 18 of 24
989070602


                  (c)  Number of shares as to which the person has:

                       (i)    Sole power to vote or to direct the vote:
                              0 shares

                       (ii)   Shared power to vote or to direct the vote:
                              131,500(1)(2) shares

                       (iii)  Sole power to dispose or to direct the disposition
                              of: 0 shares

                       (iv)   Shared power to dispose or to direct the
                              disposition of: 131,500(1)(2) shares

                  7.   Four JK Corp.:

                  (a)  Amount beneficially owned: 131,500(1)(2)shares of Common
                       Stock, $0.01 par value, of Zapata Corporation. Reporting
                       Person is a general partner of Sandler Capital
                       Management, which is the investment advisor of Sandler
                       Associates, Sandler Associates II and Sandler Offshore.

                  (b)  Percent of class: 5.5%

                  (c)  Number of shares as to which the person has:

                       (i)    Sole power to vote or to direct the vote: 0 shares

                       (ii)   Shared power to vote or to direct the vote:
                              131,500(1)(2) shares

                       (iii)  Sole power to dispose or to direct the disposition
                              of: 0 shares

                       (iv)   Shared power to dispose or to direct the
                              disposition of: 131,500(1)(2) shares

                  8.   Andrew Sandler:

                  (a)  Amount beneficially owned: 131,500(1)(2) shares of Common
                       Stock, $0.01 par value, of Zapata Corporation. Reporting
                       Person is the sole shareholder of ALCR Corp., a member of
                       the Management Committee of Sandler Capital Management,
                       which is the investment advisor of Sandler Associates,
                       Sandler Associates II and Sandler Offshore.

                  (b)  Percent of class: 5.5%

                  (c)  Number of shares as to which the person has:



CUSIP No.                             13G                       Page 19 of 24
989070602


                       (i)    Sole power to vote or to direct the vote: 0 shares

                       (ii)   Shared power to vote or to direct the vote:
                              131,500(1)(2) shares

                       (iii)  Sole power to dispose or to direct the disposition
                              of: 0 shares

                       (iv)   Shared power to dispose or to direct the
                              disposition of: 131,500(1)(2) shares

                  9.   Michael J. Marocco:

                  (a)  Amount beneficially owned: 131,500 (1)(2) shares of
                       Common Stock, $0.01 par value, of Zapata Corporation.
                       Reporting Person is the sole shareholder of MJDM Corp.,
                       a member of the Management Committee of Sandler Capital
                       Management, which is the investment advisor of Sandler
                       Associates, Sandler Associates II and Sandler Offshore.

                  (b)  Percent of class: 5.5%

                  (c)  Number of shares as to which the person has:

                       (i)    Sole power to vote or to direct the vote:
                              0 shares

                       (ii)   Shared power to vote or to direct the vote:
                              131,500(1)(2) shares

                       (iii)  Sole power to dispose or to direct the disposition
                              of: 0 shares

                       (iv)   Shared power to dispose or to direct the
                              disposition of:  131,500(1)(2) shares

                  10.  John Kornreich:

                  (a)  Amount beneficially owned: 131,500(1)(2) shares of Common
                       Stock, $0.01 par value, of Zapata Corporation. Reporting
                       Person is the majority shareholder of Four JK Corp., a
                       member of the Management Committee of Sandler Capital
                       Management, which is the investment advisor of Sandler
                       Associates, Sandler Associates II, and Sandler Offshore.

                  (b)  Percent of class: 5.5%

                  (c)  Number of shares as to which the person has:

                       (i)    Sole power to vote or to direct the vote: 0 shares



CUSIP No.                             13G                       Page 20 of 24
989070602


                       (ii)   Shared power to vote or to direct the vote:
                              131,500(1)(2) shares

                       (iii)  Sole power to dispose or to direct the disposition
                              of: 0 shares

                       (iv)   Shared power to dispose or to direct the
                              disposition of: 131,500(1)(2) shares

- -------------------------

(1)     Includes 92,163, 4,273 and 35,064 shares of Common Stock beneficially
        owned by Sandler Associates, Sandler Associates II and Sandler
        Offshore, respectively.
(2)     The reporting person disclaims beneficial ownership of these securities
        except to the extent of his/her/its equity interest therein.

Item 5.           Ownership of Five Percent or Less of a Class.

                  Not applicable.

Item 6.           Ownership of More Than Five Percent on Behalf of Another
                  Person.

                  See Item 4.

Item 7.           Identification and Classification of the Subsidiary which
                  Acquired the Security Being Reported on by the Parent Holding
                  Company or Control Person.

                  Not applicable.

Item 8.           Identification and Classification of Members of the Group.

                  See Exhibit A for Joint Filing Agreement.

Item 9.           Notice of Dissolution of Group.

                  Not applicable.

Item 10.          Certifications.

                  By signing below each party certifies that, to the best of
                  his, her or its knowledge and belief, the securities referred
                  to above were not acquired and are not held for the purpose of
                  or with the effect of changing or influencing the control of
                  the issuer of the securities and were not acquired and dare
                  not held in connection with or as a participant in any
                  transaction having that purpose or effect.




CUSIP No.                             13G                       Page 21 of 24
989070602



                                   SIGNATURE
                                   ---------

         After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.

Date:  June 23, 2003                 SANDLER CAPITAL MANAGEMENT
                                     By:  MJDM Corp., a general partner

                                     By: /s/ Moira Mitchell
                                         --------------------------------------
                                     Name:    Moira Mitchell
                                     Title:   President

Date:  June 23, 2003                 SANDLER ASSOCIATES

                                     By: /s/ Andrew Sandler
                                         --------------------------------------
                                     Name:    Andrew Sandler
                                     Title:   General Partner

Date:  June 23, 2003                 SANDLER ASSOCIATES II, L.P.

                                     By: /s/ Andrew Sandler
                                         --------------------------------------
                                     Name:    Andrew Sandler
                                     Title:   General Partner

Date:  June 23, 2003                 SANDLER OFFSHORE FUND, INC.

                                     By: /s/ Steven Warshavsky
                                         --------------------------------------
                                     Name:    Steven Warshavsky
                                     Title:   Director





CUSIP No.                             13G                       Page 22 of 24
989070602



Date:  June 23, 2003                 ALCR CORP.


                                     By: /s/ Moira Mitchell
                                         --------------------------------------
                                     Name:    Moira Mitchell
                                     Title:   President

Date:  June 23, 2003                 MJDM CORP.

                                     By: /s/ Moira Mitchell
                                         --------------------------------------
                                     Name:    Moira Mitchell
                                     Title:   President

Date:  June 23, 2003                 FOUR JK CORP.


                                     By: /s/ Moira Mitchell
                                         --------------------------------------
                                     Name:    Moira Mitchell
                                     Title:   President


Date:  June 23, 2003                By: /s/ Andrew Sandler
                                        --------------------------------------
                                     Name:    Andrew Sandler


Date:  June 23, 2003                 By: /s/ Michael J. Marocco
                                         --------------------------------------
                                     Name:    Michael J. Marocco


Date:  June 23, 2003                 By: /s/ John Kornreich
                                         --------------------------------------
                                     Name:    John Kornreich





CUSIP No.                             13G                       Page 23 of 24
989070602


                                   Exhibit A

                             JOINT FILING AGREEMENT

     In accordance with Rule 13d-1(f) under the Securities Exchange Act of 1934,
as amended,  the undersigned  hereby agree to the joint filing on behalf of each
of them of a statement  on Schedule  13G  (including  amendments  thereto)  with
respect to the Common  Stock of Zapata  Corporation  and that this  Agreement be
included as an Exhibit to such statement.

     IN WITNESS WHEREOF, the undersigned hereby execute this Agreement effective
as of the 23rd day of June, 2003.

Date:  June 23, 2003                 SANDLER CAPITAL MANAGEMENT
                                     By:  MJDM Corp., a general partner

                                     By: /s/ Moira Mitchell
                                         --------------------------------------
                                     Name:    Moira Mitchell
                                     Title:   President

Date:  June 23, 2003                 SANDLER ASSOCIATES

                                     By: /s/ Andrew Sandler
                                         --------------------------------------
                                     Name:    Andrew Sandler
                                     Title:   General Partner

Date:  June 23, 2003                 SANDLER ASSOCIATES II, L.P.

                                     By: /s/ Andrew Sandler
                                         --------------------------------------
                                     Name:    Andrew Sandler
                                     Title:   General Partner

Date:  June 23, 2003                 SANDLER OFFSHORE FUND, INC.

                                     By: /s/ Steven Warshavsky
                                         --------------------------------------
                                     Name:    Steven Warshavsky
                                     Title:   Director

Date:  June 23, 2003                 ALCR Corp.

                                     By: /s/ Moira Mitchell
                                         --------------------------------------
                                     Name:    Moira Mitchell
                                     Title:   President





CUSIP No.                             13G                       Page 24 of 24
989070602




Date:  June 23, 2003                 MJDM Corp.

                                     By: /s/ Moira Mitchell
                                         --------------------------------------
                                     Name:    Moira Mitchell
                                     Title:   President

Date:  June 23, 2003                 Four JK Corp.

                                     By: /s/ Moira Mitchell
                                         --------------------------------------
                                     Name:    Moira Mitchell
                                     Title:   President

Date:  June 23, 2003                 By: /s/ Andrew Sandler
                                         --------------------------------------
                                     Name:    Andrew Sandler

Date:  June 23, 2003                 By: /s/ Michael J. Marocco
                                         --------------------------------------
                                     Name:    Michael J. Marocco

Date:  June 23, 2003                By: /s/ John Kornreich
                                         --------------------------------------
                                     Name:    John Kornreich