ALLETE INC — Director's Dealing 2004

Feb 4, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ALLETE INC (ALE)
CIK: 0000066756
Period of Report: 2004-02-02

Reporting Person: VIZANKO JAMES K (Sen.VP, CFO & Corp. Treasurer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-02-02	Common Stock	A	1972.156	—	Acquired	1972.156	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-02-02	Employee Stock Option - Right to Buy	$32.55	A	10016	Acquired	2014-02-02	Common Stock (10016)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	11711.44	Indirect
Common Stock	11395.41	Indirect

Footnotes

F1: Includes shares acquired in exempt transactions under ALLETE's retirement savings and stock ownership plan, and is based on plan information available as of January 31, 2004.

F2: The option vests in three equal installments on the first, second and third anniversary of the grant date.