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1.
A spare male at a party, or a useless person - always male.

Refers to the fact that in most countries on Earth, there are about 1.01 men for every 1 woman, thus, every one hundred and first male is not going to find a partner ( See www.nationmaster.com for confirmation ).
a:"NAME came to the party stag again?"
b:"Yes, our own little one oh one . . ."
by D F Stuckey July 05, 2004