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1.
The most recent final version of a document which has undergone multiple iterations.
"Didn't they sign-off on the content last week?" "They did, but here's the lastest version." "Should we include 'final' in the file name?" "Not yet."
by Fishwich July 05, 2010
 
2.
Person who is at the end of doing something.
Richard came lastest in the race.
by Slavch October 21, 2006