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It's been a while since I had to restore my netbook (and I've since sold it) but I'm fairly sure I used an OEM version of XP Home and it worked with the ULCPC key. Go download a copy of XP Home OEM (not the corporate or retail or anything like that since keys are tied to specific versions) and try it out.
Since netbooks don't have a CDROM drive, you'll also need to try make a USB drive bootable with the XP files or buy an external CDROM.
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