ALLETE INC — Director's Dealing 2011

Mar 16, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ALLETE INC (ALE)
CIK: 0000066756
Period of Report: 2011-03-15

Reporting Person: McMillan David J (Sr VP Mktg, Reg. & Pub Affairs)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-03-15	Common Stock	M	3861	$29.79	Acquired	11711.16	Direct
2011-03-15	Common Stock	S	3861	$36.98	Disposed	7850.16	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-03-15	Employee Stock Option (right-to-buy)	$29.79	M	3861	Disposed	2012-01-02	Common Stock (3861)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	6681.79	Indirect

Footnotes

F1: Includes shares acquired in exempt transactions under ALLETE's employee stock purchase plan, the dividend reinvestment features of ALLETE's stock purchase and dividend reinvestment plan, and pursuant to the dividend equivalent feature of restriced stock grants under ALLETE's executive long-term incentive compensation plan, all based on plan informaiton available as of March 1, 2011.

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 March 11, 2011.

F3: The option vested in equal installments on January 2, 2003 and January 2, 2004.