<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>d24623_ex99.txt
<DESCRIPTION>PRESS RELEASE
<TEXT>

                                                                      EXHIBIT 99


Contact:

Zapata Corporation

FOR IMMEDIATE RELEASE:

            ZAPATA CORPORATION INTERNET AND MULTIMEDIA SUBSIDIARIES,
                            TO DISCONTINUE OPERATIONS

Rochester, NY - January 5, 2001 - Zapata Corporation (ZAP: NYSE) announced today
that two of its subsidiaries are ceasing operations.

Zapata's 98% owned subsidiary,  Zap.Com Corporation  (OTCBB:  ZPCM), an internet
start-up,  is ceasing  operations.  Zap.Com is  currently  reviewing  the future
direction  of its  operations  and has not made a decision at the  present  time
concerning its plans.  Zapata's  wholly-owned  subsidiary,  Charged Productions,
Inc., also plans to cease operations  because of Zapata's  decision to exit this
industry.

Through  September 30, 2000,  Zap.Com and Charged  Productions had accounted for
almost $5.7 million of Zapata's consolidated net losses for the nine months then
ended. In the future,  both Zap.Com and Charged  Productions will be reported as
discontinued operations. As a result, Zapata expects to record a one-time charge
in the range of approximately  $1.7-$3.2 million for the year ended December 31,
2000.

About Zapata Corporation

Zapata  Corporation is the largest  shareholder of Zap.Com  Corporation.  Zapata
also  owns  approximately  61% of stock of Omega  Protein,  the  largest  marine
protein   company   and    approximately   40%   of   the   stock   of   Viskase
(NASDAQ:VCIC-news), a world leader in food packaging.

                                       ###

"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.  Factors that could cause actual results,  events
and  developments to differ include,  without  limitation,  those factors listed
under the caption  "Significant Factors That Could Affect Future Performance And
Forward  Looking  Statements" in the Company's  Annual Report on Form 10-K dated
March 30, 2000 for the fiscal year ended  December 31, 1999 and,  among  others,
costs and  uncertainties  associated  with the winding  down Zap.Com and Charged
Production's  operations,  including the potential  higher actual costs incurred
for  discontinued  operation  charges as  compared  to costs  estimated  for the
purposes of  calculating  such charges and the  uncertainty  and  variations  in
future  undiscounted  net cash  flows from use  together  with  residual  values
estimated for purposes of calculating  discontinued operations charges. There is
no assurance that Zap.Com will  successfully  identify,  pursue,  or operate any
future businesses or operations in the future.  Consequently 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.

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