ALLETE Declares Dividend on Common Stock

Apr 18, 2001, 01:00 ET from ALLETE

    DULUTH, Minn., April 18 /PRNewswire/ -- ALLETE's (NYSE:   ALE) Board of
 Directors today declared a quarterly dividend on the company's common stock.
     (PHOTO:  http://www.newscom.com/cgi-bin/prnh/20010308/ALLETELOGO )
     A dividend of 26.75 cents per share of common stock was declared by the
 board and is unchanged from the previous quarter.  On an annual basis the
 dividend is equivalent to $1.07 per share, unchanged from the previous
 quarter.
     The regular quarterly dividend on common stock is payable June 01, 2001 to
 shareholders of record at the close of business May 15, 2001.
     ALLETE is a multi-services company with corporate headquarters in Duluth,
 Minn.  ALLETE's holdings include the second largest wholesale automobile
 auction network in North America; the leading provider of independent auto
 dealer inventory financing; the largest investor-owned water utilities in
 Florida and North Carolina; significant real estate holdings in Florida and a
 low-cost electric utility that serves some of the largest industrial customers
 in the United States.  For more information about ALLETE, visit the company's
 web site at http://www.allete.com
     The statements contained in this release and statements that ALLETE may
 make orally in connection with this release that are not historical facts are
 forward-looking statements.  Actual results may differ materially from those
 projected in the forward-looking statements.  These forward-looking statements
 involve risks and uncertainties and investors are directed to the risks
 discussed in documents filed by ALLETE with the Securities and Exchange
 Commission.
 
 

SOURCE ALLETE
    DULUTH, Minn., April 18 /PRNewswire/ -- ALLETE's (NYSE:   ALE) Board of
 Directors today declared a quarterly dividend on the company's common stock.
     (PHOTO:  http://www.newscom.com/cgi-bin/prnh/20010308/ALLETELOGO )
     A dividend of 26.75 cents per share of common stock was declared by the
 board and is unchanged from the previous quarter.  On an annual basis the
 dividend is equivalent to $1.07 per share, unchanged from the previous
 quarter.
     The regular quarterly dividend on common stock is payable June 01, 2001 to
 shareholders of record at the close of business May 15, 2001.
     ALLETE is a multi-services company with corporate headquarters in Duluth,
 Minn.  ALLETE's holdings include the second largest wholesale automobile
 auction network in North America; the leading provider of independent auto
 dealer inventory financing; the largest investor-owned water utilities in
 Florida and North Carolina; significant real estate holdings in Florida and a
 low-cost electric utility that serves some of the largest industrial customers
 in the United States.  For more information about ALLETE, visit the company's
 web site at http://www.allete.com
     The statements contained in this release and statements that ALLETE may
 make orally in connection with this release that are not historical facts are
 forward-looking statements.  Actual results may differ materially from those
 projected in the forward-looking statements.  These forward-looking statements
 involve risks and uncertainties and investors are directed to the risks
 discussed in documents filed by ALLETE with the Securities and Exchange
 Commission.
 
 SOURCE  ALLETE