ALLETE INC — Director's Dealing 2011

Dec 1, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ALLETE INC (ALE)
CIK: 0000066756
Period of Report: 2011-12-01

Reporting Person: SHIPPAR DONALD J (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-12-01	Common Stock	M	7905	$37.76	Acquired	11200	Direct
2011-12-01	Common Stock	S	4500	$39.90	Disposed	6700	Direct
2011-12-01	Common Stock	S	3405	$39.95	Disposed	3295	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-12-01	Employee Stock Option (right to buy)	$37.76	M	7905	Disposed	2014-02-02	Common Stock (7905)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	23554	Indirect

Footnotes

F1: The option vested in three equal installments on February 2, 2005, February 2, 2006 and February 2, 2007, respectively.