ALLETE INC — Director's Dealing 2004

Feb 4, 2004

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: ALLETE INC (ALE)
CIK: 0000066756
Period of Report: 2003-12-31

Reporting Person: GARTZKE DAVID G (Director, Chairman; CEO - ADESA Corp.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-04-30	Common Stock	G	21097	—	Disposed	27536.09	Direct
2003-05-27	Common Stock	G	80.971	—	Disposed	27455.119	Direct
2003-12-22	Common Stock	G	327.87	—	Disposed	27517.1	Direct
2003-04-30	Common Stock	G	21097	—	Acquired	21107	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	20826.17	Indirect

Footnotes

F1: Includes shares acquired in exempt transactions under ALLETE's supplemental executive retirement plan. This information is based on plan statements as of December 31, 2003.

F2: Includes shares acquired in exempt transactions under ALLETE's retirement savings and stock ownership plan (RSOP). This information is based on a RSOP plan statment as of December 31, 2003.