ALLETE INC — Director's Dealing 2005

May 20, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ALLETE INC (ALE)
CIK: 0000066756
Period of Report: 2005-05-19

Reporting Person: VIZANKO JAMES K (Senior VP & CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-05-19	Common Stock	M	20655	$29.79	Acquired	28272.65	Direct
2005-05-19	Common Stock	S	20655	$45.82	Disposed	7617.65	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-05-19	Employee Stock Option - Right to Buy	$29.79	M	20655	Disposed	2012-01-02	Common Stock (20655)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	5355.08	Indirect

Footnotes

F1: Includes shares acquired in exempt transactions under ALLETE's retirement savings and stock ownership plan (RSOP) and is based on RSOP plan information available as of April 30, 2005.

F2: This option was previously reported as covering 23,959 shares at an exercise price of $25.68 per share, but was adjusted to reflect the reverse stock split and the spin off of ALLETE's subsidiary, ADESA, Inc., on September 20, 2004.

F3: The option vested 50% on January 2, 2003 and 50% on January 2, 2004.