here's the news:
Zap Corp. to Relaunch Internet Initiative
PR Newswire - December 23, 1998 10:43
ROCHESTER, N.Y., Dec. 23 /PRNewswire/ -- Zap Corporation, a
subsidiary of Zapata Corporation (NYSE: ZAP), announced today that
following a previously disclosed strategic review process, the Company
plans to re-launch its Internet initiative, which will focus on the
development of an Internet-related brand name and network of sites.
As a first step, during the next few weeks, Zap intends to reintroduce a
new Zap.com page. Zap also plans to review the possible relationships,
alliances and agreements with various Internet companies and
e-commerce businesses.
Avram Glazer, President of Zapata stated, "Since we began our strategic
review two months ago, global financial markets have strengthened
dramatically and the Internet sector, in particular, has been positively
impacted. We feel that the Internet continues to offer great opportunities
for Zap."
Zapata Corporation holds 60 percent of the outstanding common shares
of Omega Protein Corporation (NYSE: OME), the nation's largest
marine protein company and approximately 40 percent of the outstanding
common shares of Viskase Companies, Inc. (Nasdaq: VCIC), formerly
known as Envirodyne Industries Inc., a food packaging company.
"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, among
others, Zap's ability to implement its business strategy, Zap's ability to
establish relationships with Internet industry participants, the continued
development and viability of Zap's operations, Zap's ability to manage its
growth, the impact of the changing Internet industry (including
technology)and economic conditions and, competition and other factors,
including those listed from time to time in the Company's filings with the
Securities and Exchange Commission. Many of these risks are beyond
the control of the Company and Zap. 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 operating results.
SOURCE Zap Corporation
/CONTACT: Jeffrey Goldberger of Stern & Co., 212-888-0044, for
Stern & Co./ |
