ALLETE INC — Director's Dealing 2005

Feb 3, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ALLETE INC (ALE)
CIK: 0000066756
Period of Report: 2005-02-01

Reporting Person: Stellmaker Donald W (Treasurer)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-02-01	Employee Stock Option - Right to Buy	$41.35	A	1792	Acquired	2015-02-01	Common Stock (1792)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	284.32	Direct
Common Stock	405.11	Indirect

Footnotes

F1: The option vests in three equal installments: one on each of the first, second and third anniversary of the grant date.