ALLETE INC — Director's Dealing 2005

Feb 15, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ALLETE INC (ALE)
CIK: 0000066756
Period of Report: 2005-02-14

Reporting Person: VIZANKO JAMES K (Sen.VP Finance & CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-02-14	Common Stock	M	10328	$23.79	Acquired	17954.65	Direct
2005-02-14	Common Stock	S	10328	$41.07	Disposed	7617.65	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-02-14	Employee Stock Option - Right to Buy	$23.79	M	10328	Disposed	2013-02-03	Common Stock (10328)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	4772.14	Indirect

Footnotes

F1: This option was previously reported as covering 23,959 shares at an exercise price of $20.51 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.

F2: The option vested 50% on February 3, 2004 and 50% on February 3, 2005