Zap.Com Corporation Announces First Quarter 2008 Results

Business Wire,  May 8, 2008  

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ROCHESTER, N.Y. -- Zap.Com Corporation (OTCBB: ZPCM) today announced its financial results for the quarter ended March 31, 2008.

For the quarter ended March 31, 2008, Zap.com reported a net loss of approximately $8,000 as compared to a net loss of approximately $6,000 for the comparable period of the prior year.

About Zap.com:

Zap.Com is a public shell company that is 98 percent owned by Zapata Corporation (NYSE: ZAP). Zap.Com is searching for assets or businesses that it can acquire so that it can become an operating company and may also consider developing a new business suitable for its situation.

"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, 2007. 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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