<PAGE> 1
SCHEDULE 13D
(RULE 13d-101)
Information to be Included in Statements Filed Pursuant to Rule 13d-1(a) and
Amendments Thereto Filed Pursuant to Rule 13d-2(a)
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. )*
NETSOL INTERNATIONAL INC.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $0.001 par value
- --------------------------------------------------------------------------------
(Title of Class of Securities)
64115A105
- --------------------------------------------------------------------------------
(CUSIP Number)
Najeeb U. Ghauri, President, NetSol International Inc.
233 Wilshire Blvd., Suite 930B, Santa Monica, California, 90401
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
- --------------------------------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is filing
this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box / /.
Note: Schedules filed in paper format shall include a signed original
and five copies of the schedule, including all exhibits. See Rule
13d-7(b) for other parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
<PAGE> 2
CUSIP NO. 64115 A 105 13D PAGE 2 OF 15 PAGES
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
Blue Water Master Fund, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
WC
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
1,593,300
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
1,593,300
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,935,700
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
22.68%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
PN
- --------------------------------------------------------------------------------
<PAGE> 3
CUSIP NO. 64115 A 105 13D PAGE 3 OF 15 PAGES
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
Blue Water Partners I, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
OO
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
0
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,935,700
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
22.68%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
PN
- --------------------------------------------------------------------------------
<PAGE> 4
CUSIP NO. 64115 A 105 13D PAGE 4 OF 15 PAGES
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
Blue Water Fund, LTD.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
OO
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
0
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,935,700
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
22.68%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
CO
- --------------------------------------------------------------------------------
<PAGE> 5
CUSIP NO. 64115 A 105 13D PAGE 5 OF 15 PAGES
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
Blue Water Partners, L.L.C.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
OO
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
0
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,935,700
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
22.68%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
CO
- --------------------------------------------------------------------------------
<PAGE> 6
CUSIP NO. 64115 A 105 13D PAGE 6 OF 15 PAGES
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
JDI Management Corp.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
OO
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
0
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,935,700
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
22.68%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
CO
- --------------------------------------------------------------------------------
<PAGE> 7
CUSIP NO. 64115 A 105 13D PAGE 7 OF 15 PAGES
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
Jonathan D. Iseson
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
OO
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
0
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,935,700
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
22.68%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
IN
- --------------------------------------------------------------------------------
<PAGE> 8
CUSIP NO. 64115 A 105 13D PAGE 8 OF 15 PAGES
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
Blue Water Partners II, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
WC
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
342,400
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
342,400
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,935,700
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
22.68%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
PN
- --------------------------------------------------------------------------------
<PAGE> 9
CUSIP NO. 64115 A 105 13D PAGE 9 OF 15 PAGES
ITEM 1. SECURITY AND ISSUER
Security: Common Stock, $0.001 par value
Issuer: NetSol International Inc., 233 Wilshire Blvd., Suite 930B,
Santa Monica, California, 90401
ITEM 2. IDENTITY AND BACKGROUND
a) Blue Water Master Fund, L.P., a limited partnership whose general
partner is Blue Water Partners, L.L.C.
Blue Water Fund, Ltd., an international business corporation whose
managing member is Blue Water Partners, L.L.C.
Blue Water Partners, L.L.C., a limited liability company whose members
are JDI Management Corp. and Tuna Capital, L.L.C.
JDI Management Corp., a corporation whose sole shareholder is Jonathan
D. Iseson.
Jonathan D. Iseson, an individual.
Blue Water Partners I, L.P., a limited partnership whose general
partner is Blue Water Partners, L.L.C.
Blue Water Partners II, L.P., a limited partnership whose general
partner is Blue Water Partners, L.L.C.
b) Blue Water Master Fund, L.P. - c/o Citco Fund Services, Kaya Flamboyan
9, Curacao, Netherland Antilles
Blue Water Fund, Ltd. - c/o Citco Fund Services, Kaya Flamboyan 9,
Curacao, Netherland Antilles
Blue Water Partners, L.L.C. - 701 Palomar Airport Road, Suite 150,
Carlsbad, CA 92009
JDI Management Corp. - 6 Chanticlare, Manhasset, New York 11030
Jonathan D. Iseson - 6 Chanticlare, Manhasset, New York 11030
Blue Water Partners I, L.P. - 6 Chanticlare, Manhasset, New York 11030
Blue Water Partners II, L.P. - 6 Chanticlare, Manhasset, New York 11030
c) Blue Water Master Fund, L.P. - Investment trading and management Blue
Water Fund, Ltd - Investment trading and management Blue Water
Partners, L.L.C. - Investment trading and management JDI Management
Corp. - Investment trading and management Jonathan D. Iseson -
Investment trading and management Blue Water Partners I, L.P. -
Investment trading and management Blue Water Partners II, L.P. -
Investment trading and management
d) Blue Water Master Fund, L.P. has not been convicted in a criminal
proceeding in the past five years.
Blue Water Fund, Ltd. has not been convicted in a criminal proceeding
in the past five years.
Blue Water Partners, L.L.C. has not been convicted in a criminal
proceeding in the past five years.
JDI Management Corp. has not been convicted in a criminal proceeding in
the past five years.
Jonathan D. Iseson has not been convicted in a criminal proceeding in
the past five years.
Blue Water Partners I, L.P. has not been convicted in a criminal
proceeding in the past five years.
Blue Water Partners II, L.P. has not been convicted in a criminal
proceeding in the past five years.
e) Blue Water Master Fund, L.P. has not been a party to a civil
proceeding of a judicial or administrative body of competent
jurisdiction in the past five years relating to federal or state
securities laws.
Blue Water Fund, Ltd. has not been a party to a civil proceeding of a
judicial or administrative body of competent jurisdiction in the
past five years relating to federal or state securities laws.
Blue Water Partners, L.L.C. has not been a party to a civil proceeding
of a judicial or administrative body of
<PAGE> 10
CUSIP NO. 64115 A 105 13D PAGE 10 OF 15 PAGES
competent jurisdiction in the past five years relating to federal
or state securities laws.
JDI Management Corp. has not been a party to a civil proceeding of a
judicial or administrative body of competent jurisdiction in the
past five years relating to federal or state securities laws.
Jonathan D. Iseson has not been a party to a civil proceeding of a
judicial or administrative body of competent jurisdiction in the
past five years relating to federal or state securities laws.
Blue Water Partners I, L.P. has not been a party to a civil proceeding
of a judicial or administrative body of competent jurisdiction in
the past five years relating to federal or state securities laws.
Blue Water Partners II, L.P. has not been a party to a civil proceeding
of a judicial or administrative body of competent jurisdiction in
the past five years relating to federal or state securities laws.
f) Citzenship:
Blue Water Master Fund, L.P. - British Virgin Islands
Blue Water Fund, Ltd. - British Virgin Islands
Blue Water Partners, L.L.C. - California
JDI Management Corp. - New York
Jonathan D. Iseson - United States of America
Blue Water Partners I, L.P. - Delaware
Blue Water Partners II, L.P. - Delaware
ITEM 3. SOURCE AND AMOUNT OF FUNDS
Source: In each case the source of funds used to acquire securities of
the issuer by the two entities holding title to the shares was from the
working capital of the entity acquiring title to the shares. The
working capital was derived from the sale of limited partnership
interests to investors. Other than margin used in securities trading
accounts, no borrowed funds were used in the acquisition by the
entities holding title to the shares of the issuer.
Amount: The aggregate cost of the shares to the entities holding title
to the shares of the issuer was $33,743,964.62.
ITEM 4. PURPOSE OF THE TRANSACTION
In each case, the shares were acquired as a passive investment to be
held for capital appreciation and not with any intention to effect a
change of control of the issuer.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
a) Amount of Securities: 1,935,700
Percent: 22.68%
b) Blue Water Master Fund, L.P. holds title to and has sole power
to vote or to direct the vote of 1,593,300 of the 1,935,700 shares
described in this filing. The limited partners of Blue Water Master
Fund, L.P. are Blue Water Partners I, L.P. and Blue Water Fund, Ltd.
Because they are the only limited partners of Blue Water Master Fund,
L.P., their ownership of interests in Blue Water Master Fund L.P. may,
under SEC interpretations, be deemed ownership of the securities owned
by Blue Water Master Fund, L.P. Blue Water Partners I, L.P. and Blue
Water Fund, Ltd. each specifically disclaims ownership of the
securities described in this report. Blue Water Partners II, L.P. holds
title to and has sole power to vote or to direct the vote of 342,400 of
the 1,935,700 shares described in this filing. Blue Water Partners,
L.L.C. is the general partner of each of Blue Water Master Fund, L.P.
and Blue Water Partners II, L.P., and as such may, under SEC
interpretations, be deemed a beneficial owner of the securities held by
the partnerships. Blue Water Partners, L.L.C. specifically disclaims
ownership of the securities described in this report. JDI Management
Corp. provides investment advisory services to Blue Water Partners,
L.L.C., and as such may, under SEC interpretations, be deemed a
beneficial owner of the securities held by the partnerships. JDI
Management Corp. specifically disclaims ownership of the securities
<PAGE> 11
CUSIP NO. 64115 A 105 13D PAGE 11 OF 15 PAGES
described in this report. Jonathan D. Iseson holds a controlling
interest in JDI Management Corp. and as such may, under SEC
interpretations, be deemed a beneficial owner of the securities held by
the partnerships. Jonathan D. Iseson specifically disclaims ownership
of the securities described in this report.
c) See attached schedule.
d) (Not applicable)
e) Not applicable
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER
None.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Exhibit
Number Description
------ -----------
None. n/a
<PAGE> 12
CUSIP NO. 64115 A 105 13D PAGE 12 OF 15 PAGES
NETSOL INTERNATIONAL, INC. FORM 13D
SCHEDULE A TO ITEM 5(C)
FILED BY BLUE WATER MASTER FUND, L.P. ET AL.
5-APR-00
COMMON STOCK ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
<TABLE>
<CAPTION>
TITLE OF SECURITY TRANSACTION DATE AMOUNT ACQUIRED (A) PRICE
(MONTH/DAY/YEAR) DISPOSED OF (D)
BLUE WATER MASTER FUND, L.P. TRANSACTIONS
<S> <C> <C> <C> <C>
Common Stock 02/10/00 5,300.00 D 23.50
Common Stock 02/11/00 14,700.00 D 29.75
Common Stock 02/11/00 27,600.00 D 29.75
Common Stock 02/14/00 2,500.00 A 30.88
Common Stock 02/15/00 1,000.00 A 30.00
Common Stock 02/15/00 20,000.00 A 29.88
Common Stock 02/16/00 5,000.00 D 31.63
Common Stock 02/16/00 2,000.00 A 30.00
Common Stock 2/16/00 10,000 A 31.75
Common Stock 2/17/00 2,000 A 34.13
Common Stock 2/18/00 8,900 A 41.50
Common Stock 4/4/00 22,000 A 47.00
Common Stock 4/4/00 31,000 A 51.95
Common Stock 4/4/00 16,000 A 48.50
Common Stock 4/5/00 21,000 A 61.63
Common Stock 4/5/00 14,000 A 60.94
</TABLE>
<PAGE> 13
CUSIP NO. 64115 A 105 13D PAGE 13 OF 15 PAGES
<TABLE>
<S> <C> <C> <C> <C>
Common Stock 4/5/00 7,500 A 59.79
Common Stock 4/5/00 2,500 A 61.00
Common Stock 4/7/00 3,500 A 63.88
Common Stock 4/10/00 7,600 A 63.83
Common Stock 4/11/00 10,000 A 61.25
BLUE WATER PARTNERS II, L.P. TRADES
Common Stock 02/10/00 3,000.00 A 23.75
Common Stock 02/11/00 3,400.00 D 29.75
Common Stock 02/11/00 1,800.00 D 29.75
Common Stock 02/11/00 1,000.00 A 24.75
Common Stock 02/14/00 2,500.00 A 30.88
Common Stock 02/15/00 15,000.00 A 29.88
Common Stock 02/15/00 1,500.00 A 30.00
Common Stock 02/16/00 500.00 A 30.00
Common Stock 02/16/00 1,000.00 D 31.63
Common Stock 02/16/00 3,000 A 31.75
Common Stock 02/17/00 500 A 34.13
Common Stock 02/18/00 1,100.00 A 41.50
Common Stock 02/24/00 56,200.00 A 40.19
Common Stock 02/28/00 9,500.00 A 46.58
Common Stock 02/25/00 5,600.00 A 46.00
Common Stock 02/29/00 7,500.00 A 46.38
</TABLE>
<PAGE> 14
CUSIP NO. 64115 A 105 13D PAGE 14 OF 15 PAGES
<TABLE>
<S> <C> <C> <C> <C>
Common Stock 03/14/00 6,000.00 A 59.31
Common Stock 03/15/00 7,000.00 A 58.06
Common Stock 03/15/00 2,500.00 A 58.25
Common Stock 03/17/00 5,000.00 A 63.50
Common Stock 03/21/00 13,000.00 A 61.00
Common Stock 03/21/00 3,500.00 A 60.50
Common Stock 03/21/00 2,500.00 A 60.94
Common Stock 03/22/00 7,500.00 A 60.94
Common Stock 03/16/00 2,300.00 A 60.50
Common Stock 03/27/00 6,500.00 A 63.06
Common Stock 03/29/00 6,000.00 A 61.44
Common Stock 03/29/00 4,000.00 A 62.06
Common Stock 03/30/00 8,500.00 A 60.38
Common Stock 04/04/00 2,000.00 A 48.50
Common Stock 04/04/00 4,000.00 A 51.95
</TABLE>
All transactions were open market purchases in the over-the counter secondary
market.
<PAGE> 15
CUSIP NO. 64115 A 105 13D PAGE 15 OF 15 PAGES
SIGNATURES
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
<TABLE>
<S> <C>
- -------------------------------------------------------------------------------------------------------------
BLUE WATER MASTER FUND, L.P. BLUE WATER FUND, LTD.
By: Blue Water Partners, L.L.C.
Its General Partner By: Jonathan D. Iseson
Its Director
By: JDI Management Corp.
Its Principal
-----------------------------
By: Jonathan D. Iseson
Its Principal
- -------------------------------------------------------------------------------------------------------------
BLUE WATER PARTNERS, L.L.C.
JDI MANAGEMENT CORP.
By: JDI Management Corp.
Its Principal By: Jonathan D. Iseson
Its Principal
By: Jonathan D. Iseson
Its Principal
- -------------------------------------------------------------------------------------------------------------
BLUE WATER PARTNERS I, L.P. JONATHAN D. ISESON
By: Blue Water Partners, L.L.C.
Its General Partner
By: JDI Management Corp.
Its Principal
By: Jonathan D. Iseson
Its Principal
- -------------------------------------------------------------------------------------------------------------
BLUE WATER PARTNERS II, L.P.
By: Blue Water Partners, L.L.C.
Its General Partner Dated:_______________________________
By: JDI Management Corp.
Its Principal
By: Jonathan D. Iseson
Its Principal
- -------------------------------------------------------------------------------------------------------------
</TABLE>
