ALLETE INC — Director's Dealing 2008

Feb 4, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ALLETE INC (ALE)
CIK: 0000066756
Period of Report: 2008-02-01

Reporting Person: Stellmaker Donald W (Treasurer)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-02-01	Employee Stock Option -- Right to Buy	$39.10	A	4596	Acquired	2018-01-02	Common Stock (4596)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	710.62	Direct
Common Stock	3109.8	Indirect

Footnotes

F1: Includes shares acquired in exempt transactions under ALLETE's stock purchase and dividend reinvestment plan and is based on plan information available as of January 31, 2008.

F2: 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 January 31, 2008.

F3: The option vests in three equal installments: one on each of the first, second and third anniversary of the grant date.