For the single server queueing system, whose distributions of service and inter-arrival times have rational Laplace-Stieltjes transforms, limit theorems are derived for the supremum of the virtual waiting time during k successive busy cycles for k→∞. Similarly, for the supremum of the actual waiting times of all customers arriving in k successive busy cycles. Only the cases with the load of the system less than one and equal to one are considered. The limit distributions are extreme value distributions. The results are obtained by first deriving a number of asymptotic expressions for the quantities which govern the analytic description of the system Km/Kn/1. Using these asymptotic relations limit theorems for entrance times can also be obtained, a few examples are given.