Liquidity improving up another cent.

National 1 Limited reported sales of A$61.56 million (US$32.68 million) for the fiscal year ending June of 2001.
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National 1 Limited currently has 251 employees. With sales of A$61.56 million (US$32.68 million) , this equates to sales of US$130,181 per employee.
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Hi Viking yes I do think if they manage to turn the company around in the second half and the acquistions they have done are succesful and they manage to extract the synergies from them--that the directors have stated---this stock could indeed be another Corporate Express.
My view.Cheers.
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intermediate (ID#: 405583) RE: see previous posts.--NOL.(liquidity) 17/4/02 1:59:45 PM 5056593
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Liquidity improving see previous posts---expected to have a better second half)
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Negotiations for a new distribution centre in Adelaide have beencompleted with the new facility at Angle Park anticipated to be fullyoperational during March with a sales capacity of approximately $40
million.
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rainbow8 (ID#: 401932) RE: BK?---can I ask what you think?--Rainbow. 17/4/02 11:15:31 PM 5057924
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BK what do you think about Nol?-----Intermediate.

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spudsandpeas (ID#: 404413) RE:what does bonkers think? Rainbow Nol 17/4/02 11:23:33 PM 5057951
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I think if someone were to buy Nol---in the low 30's and put up with at times not very good liquidity and were patient and waited and just tucked them in the draw---that the next time the company reported it would show an improvement from the previous time it reported, which should then be reflected in a resulting capital gain (sector and market conditions not withstanding) in the share price--it's immediate trend (share wise) I'd regard as unimportant (certainly with todays big trade--it has raised a few eyebrows)--I am thinking in terms of a month or two.
Looks good Rainbow,Cheers,--BK.
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progreeively realised second half 22/5/2002. ilrobbinrosso 22/5/02 4:08:03 PM
progressively/realised/second half/27/11/2001. ilrobbinrosso 20/5/02 1:54:32 PM
progressively/realised/second half/27/11/2001. ilrobbinrosso 19/5/02 5:15:35 AM
A lot of speculative risk eps quite low 2nd half ilrobbinrosso 19/5/02 5:03:31 AM
opened 1c higher than previous close 17/5/2002 viking116 17/5/02 3:32:28 PM
defintely improving---liquidity---rising. viking116 17/5/02 3:25:00 PM

ilrobbinrosso (ID#: 406483) progreeively realised second half 22/5/2002. 22/5/02 4:08:03 PM 5189233
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NOL National 1 Limited FPO
Total Trades Total Volume Last Trade V.W.A.P*
3 117,200 38 38
* Volume Weighted Average Price
Trade
Number (s) Time
Last Traded Price Volume Change Value Number
of Trades
2 - 3 12:06:06 pm 38 115,000 1 $43,700 2
1 10:30:41 am 39 2,200 $858 1


4th Preliminary Final Report (4 parts)

NATIONAL 1 LIMITED 2001-01-15 ASX-SIGNAL-G
HOMEX - Perth
+++++++++++++++++++++++++
APPENDIX 3B
NEW ISSUE ANNOUNCEMENT
APPLICATION FOR QUOTATION OF ADDITIONAL SECURITIES AND AGREEMENT
Information or documents not available now must be given to ASX as
soon as available. Information and documents given to ASX become
ASX's property and may be made public.
Introduced 1/7/96. Origin Appendix 5. Amended 1/7/98, 1/9/99,
1/7/2000.
Name of Entity
National 1 Limited
ACN or ARBN
088 164 872
We (the entity) give ASX the following information.
PART 1 - ALL ISSUES
You must complete the relevant sections (attach sheets if
there is not enough space).
1. Class of securities issued Unlisted Options
or to be issued

2. Number of securities issued 2,600,000 options
or to be issued (if known)
or maximum number which
may be issued
3. Principal terms of the securities Exercisable at 90 cents from
(eg, if options, exercise price 0//01/2004 and expiring on
and expiry date; if partly paid 31/12/2005
securities, the amount
outstanding and due dates for
payment; if convertible securities,
the conversion price and dates
for conversion)
4. Do the securities rank equally yes
in all respects from the date
of allotment with an existing
class of quoted securities
If the additional securities
do not rank equally, please
state:
* the date from which they do
* the extent to which they
participate for the next
dividend, (in the case of
a trust, distribution) or
interest payment
* the extent to which they do
not rank equally, other than
in relation to the next
dividend, distribution or
interest payment
5. Issue price or consideration Nil
6. Purpose of the issue (if Issued in terms of the
issued as consideration for company's Employee Share
the acquisition of assets, Option Plan copy of which has
clearly identify those been lodged with the Australian
assets) Stock Exchange.
7. Dates of entering securities N/A
into uncertified holdings
or despatch of certificates

NUMBER CLASS
8. Number and class of all 25,117,786 Ordinary shares fully
securities quoted on paid
ASX (including the
securities in clause
2 if applicable)
NUMBER CLASS
9. Number and class of all 78,453,642 Ordinary shares fully
securities not quoted paid and held in escrow
on ASX (including the to 24/10/2002
securities in clause 2 1,925,000 Ordinary shares fully
if applicable) paid and held in escrow
to 24/10/2001
1,000,000 Options held in escrow
31/10/2002
exercisable at 40 cents
each and expiring on
30/06/2005
1,000,000 Options held in escrow
to 31/10/2002,
exercisable at 45 cents
each and expiring on
26/10/2002
500,000 Options exercisable at
50 cents each from
31/12/2002, and
expiring on 30/06/2005
2,600,000 Options exercisable at
90 cents each from
01/01/2004 and expiring
on 31/12/2005
10.Dividend policy (in the case As per existing shares
of a trust, distribution
policy) on the increased
capital (interests)
PART 2 - BONUS ISSUE OR PRO RATA ISSUE
Items 11 to 33 are Not Applicable
PART 3 - QUOTATION OF SECURITIES
You need only complete this section if you are applying for quotation
of securities
Items 34 to 37 are Not Applicable
Entities that have Ticked Box 34 (b)
Items 38 to 42 are Not Applicable
ALL ENTITIES
Fees
43. Payment method (tick one)
Cheque attached
Electronic payment made
Note: Payment may be made electronically if Appendix 3B is
given to ASX electronically at the same time.

Periodic payment as agreed with the home branch has been
arranged
Note: Arrangements can be made for employee incentive
schemes that involve frequent issues of securities.
QUOTATION AGREEMENT
1. Quotation of our additional securities is in ASX's absolute
discretion. ASX may quote the securities on any conditions it
decides.2. We warrant to ASX that the issue of the securities to be quote
d
complies with the law and is not for an illegal purpose, and that
there is no reason why those securities should not be granted
quotation. We warrant to ASX that an offer of the securities for
sale within 12 months after their issue will not require
disclosure under section 707(3) of the Corporations Law.
3. We will indemnify ASX to the fullest extent permitted by law in
respect of any claim, action or expense arising from or connected
with any breach of the warranties in this agreement.
4. We give ASX the information and documents required by this form.
If any information or document not available now, will give it to
ASX before quotation of the securities begins. We acknowledge that
ASX is relying on the information and documents. We warrant that
they are (will be) true and complete.
J Burness
COMPANY SECRETARY
12/01/2001
NATIONAL 1 LIMITED 2001-11-27 ASX-SIGNAL-G

HOMEX - Perth

+++++++++++++++++++++++++
It is pleasing to welcome shareholders, staff and guests to the
second annual general meeting of the company, but the first as a
listed public company.

The year ended 30th June 2001 has been an exciting, challenging and
extremely busy year.

On the 27th October, last year, National 1 became listed on the
Australian Stock Exchange following an $8 million capital raising.
This capital raising enabled the company to settle the outstanding
purchase consideration for the Western Australian and new south wales
businesses, complete the purchase of the Victorian business and to
reduce bank debt.

Within weeks of the ASX listing the company experienced a surge in
interest from potential new large national clients and it very
quickly became clear that the anticipated growth path for National 1
would differ from that originally envisaged with a significant number
of new business opportunities being presented to the company.

A number of business acquisition opportunities which together with
rapidly growing interest from potential new national corporate and
government clients brought significant challenges to our small but
rapidly growing company.

These challenges were accepted by management with enthusiasm and
energy. They did, however place management undersignificant pressure
throughout the year.

In November 2000, National 1 successfully absorbed the business of B
G Price in New South Wales.

This was followed by the purchase in March 2001 of Sinclair
Halvorsen, which was Australia's largest privately owned specialist
supplier of sophisticated coffee, tea and canteen products to the
corporate market.

At this time the company completed a $33 million capital raising
which enabled National 1 to complete the purchase of Sinclair
Halvorsen, reduce bank debt to zero and provide the funds for the
subsequent acquisitions in July 2001 of the National 1 alliance
businesses in South Australia and Tasmania plus the independently
owned Tasmanian business of island stationery.

All of this took place at a time when the company was being invited
to tender for a rapidly growing list of new national corporate
clients and with our distribution facilities in Sydney and Melbourne
being stretched to capacity.

Yourdirectors and the company's management were faced with the
issues of rapid growth and escalating demand for the company's
services which substantially stretched management and distribution
facilities.

The company's Western Australian operation was moved to this new
Belmont facility in June 2001 and in July we opened a new
distribution centre in Canberra.

In July we acquired the Victorian businesses of Palladium School
Supplies Pty Ltd and B W Distributors Pty Ltd.

The search for suitable new distribution centres in Sydney and
Melbourne began in November of last year with the need to secure
facilities that would meet the service requirements of our major
national clients and provide the capacity to meet our anticipated
continued growth.

The Victorian operations have been progressively moved since
September to a new distribution centre ideally located in port
Melbourne. The move will be completed next month with the exception
of the transfer of palladium school supplies and B W Distributors,
which will not take place until March of next year. The new Melbourne
facility should provide the company with ample capacity for many
years ahead.

in October, we commenced the progressive transfer of our Sydney
operations to a new distribution centre at Rydalmere. Again this
transfer is expected to be completed by the end of next month.

Distribution centres in Tasmania at Hobart and Launceston have been
rationalised and negotiations for a new centre in Adelaide are
nearing completion.

As several of our national corporate clients have operations in New
Zealand, we have recently arranged distribution capacity in New
Zealand.

We completed the final year to 30th June 2001 with total sales
revenue of $61.5 million and earnings before interest, taxation,
depreciation and amortisation of $2.9 million and a net profit after
income tax of $397,000 after the deduction of $881,000 for the
amortisation of intangibles.

Whilst profits for the year were well short of our original
prospectus forecasts, your board of directors believes that the
decisions taken to pursue the growth opportunities presented to the
company will prove to be significantly beneficial in the future.

As announced to the Australian Stock Exchange on 4th September 2001,
National 1 Ltd anticipates sales revenue for the 2001/2002 financial
year to more than double to in excess of $130 million.

Our business is one of large sales revenues at relatively low margins
spread over distribution infrastructure locations throughout the
country. Economies of scale at each location therefore will drive
performance to the bottom line.

With the significant costs associated with absorbing and
rationalising the business acquisitions and the investment in new
distribution centres already described we are budgeting for revenue
of approximately $60 million and EBITDA (earnings before interest,
taxation, depreciation and amortisation) of approximately $0.5
million for the first half with the benefits of our achievements to
date being progressively realised in the second half.

As you can see, National 1 has grown from a company with only one
business and distribution centre two years ago with a turnover in the
order of $20 million to a national organisation which now has eight
distribution centres, has absorbed nine business acquisitions and is
moving to anticipated sales revenue for this year in excess of $130
million. Most of this growth has taken place in the last twelve
months.

In closing I would like to thank all the employees of National 1 for
their work throughout the year with particular thanks to our senior
executives who have shouldered an immense work load with great
commitment enthusiasm and energy.