Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT
                     PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934


       Date of Report (date of earliest event reported): January 24, 2001

                               ZAPATA CORPORATION
             (Exact name of registrant as specified in its charter)

Nevada                               1-4219                         C-74-1339132
(State or other               (Commission File No.)              (I.R.S Employer
jurisdiction of                                              Identification No.)

                         100 Meridian Centre, Suite 350
                            Rochester, New York 14618
                     (Address of principal executive office)

                                 (716) 242-2000
              (Registrant's telephone number, including area code)

                                 Not Applicable
          (Former name or former address, if changed since last report)

ITEM 5. OTHER EVENTS. On January 24, 2001, Zapata Corporation (the "Company") announced that it effected a one-for-ten reverse stock split of its common stock, effective at the close of business on January 30, 2001. Further details of this announcement are contained in the press release of the Company dated January 24, 2001, which is attached hereto as Exhibit 99.1. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS. (c) Exhibits Required by Item 601 of Regulation S-K EXHIBIT NO. DESCRIPTION ----------- ----------- 99.1 Press release dated January 24, 2001

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ZAPATA CORPORATION By: /s/ Avram Glazer -------------------------------------- Name: Avram Glazer Title: President and Chief Executive Officer Date: January 31, 2001

EXHIBIT INDEX Exhibit No. Description 99.1 Press release dated January 24, 2001

                                                                    EXHIBIT 99.1

For Further Information Contact:
Ted Crawford at Lippert/Heilshorn & Associates, Inc.
(212) 838-3777

                               ZAPATA CORPORATION
                             ANNOUNCES REVERSE SPLIT

ROCHESTER,  NEW YORK (January 24, 2001) - Zapata  Corporation  (NYSE: ZAP) today
announced  that its Board of Directors had approved a one-for-ten  reverse stock
split of its outstanding  shares of common stock. The reverse stock split, which
does not  require  shareholder  approval,  will be  effective  with the close of
business on January 30,  2001 and is expected to begin  trading on a  post-split
basis effective on January 31, 2001.

With  the   completion  of  the  reverse  stock  split  the  Company  will  have
approximately  2.4  common  shares  outstanding.   In  addition,  the  Company's
authorized  shares  will be  reduced  to 16.5  million  common  shares,  200,000
preferred stock shares and 1.8 million  preference  stock shares.  The preferred
stock and preference shares are undesignated "blank check" shares.

Avram Glazer,  CEO and President stated,  "the reverse split will enable a wider
range of brokers and mutual funds,  some of whom are prohibited  from purchasing
low price  stocks,  to consider  investing in Zapata.  It should also reduce the
transaction costs to our shareholders and make our shares marginable."

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.  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.