Investors

SEBASTOPOL, Calif.-March 1, 2002-ZAP (NASDAQ:ZAPP) filed a voluntary petition today for reorganization under Chapter 11 of the U. S. Bankruptcy Code with the U.S. Bankruptcy Court in Santa Rosa, California. The protection of Chapter 11 allows ZAP to reorganize its business operations and finances. The Company plans to use existing cash, revenue generated from normal business activities, and the benefits of relief opportunities provided by Chapter 11 to finance operations through this period and to create new business opportunities in 2002.

Sebastopol, California (Aug. 14, 2001) - ZAP (NASDAQ:ZAPP), formerly known as ZAPWORLD.COM, today reported its financial results for the second quarter ended June 30 of fiscal year 2001.

Total revenues for the quarter ended June 30, 2001, were $940,000 compared to $2,283,000 in the prior year, a decrease of $1,343,000 or 59%. Net loss for the same period was $1,953,000, or $ 0.31 per share, compared to a net loss of $477,000 or $ 0.09 per share in 2000. Revenues for the six months ended June 30, 2001 were $2,953,000 compared to $4,180,000 in the prior year. The net loss for the first six months of 2001 was $3,237,000 or $ 0.54 per share, compared to a loss of $960,000 or $ 0.19 per share in the prior year.