No. The Pokèmon only gains XP up to LV100
Edit: Oh, stat experience. As it says on bulbapedia:
The EV system was introduced in Generation I, where it was also called Stat Experience or Stat Exp.
The Pokémon data structure contains two EV bytes for each the five stats (HP, Attack, Defense, Speed and Special), starting at zero when caught and with a maximum EV of 65535 for each stat. When a Pokémon is defeated, its base stats are converted to effort points and then added to the EVs. For example, defeating a Mew grants 100 effort points to each EV. (Defeating 656 Mew, therefore, will give a Pokémon maximum EVs in each stat.)
EVs are factored into the Pokémon's stats when it levels up. Additionally, EVs are calculated into stats when a Pokémon is taken from Bill's PC; this is called the box trick. A Pokémon which reaches level 100 can continue to acquire EVs up to the maximum of 65535 in each stat, and use the box trick to have those EVs factored in.
Vitamins add 2560 to one stat's EV, but cannot raise a stat above 25600. Unlike the Exp. Share in later games, the Exp. All did not share EVs.
At level 100, the formula for determining the stat difference between a Pokémon trained in that stat and an untrained Pokémon is square root of stat exp divided by four.