National Financial Magazine Highlights ALLETE

Apr 12, 2001, 01:00 ET from ALLETE

    DULUTH, Minn., April 12 /PRNewswire/ -- Better Investing magazine has
 chosen ALLETE (NYSE:   ALE) as its "Stock to Study" in its May, 2001 issue.  The
 magazine will be available on newsstands nationwide beginning April 17, and is
 also mailed directly to members of the National Association of Investors
 Corporation (NAIC).  NAIC is a widely respected, non-profit organization whose
 membership of 537,000 consists of investment clubs and individual investors
 across the United States.
     (Photo:  http://www.newscom.com/cgi-bin/prnh/20010308/ALLETELOGO )
     The seven-page feature includes an explanation of ALLETE's holdings, an
 extensive company earnings analysis, and an interview with ALLETE President
 and Chief Executive Officer Ed Russell.
     "Many of our shareholders already use Better Investing to help guide them
 in making investment decisions," Russell said.  "It's a highly read resource,
 and we're honored to be featured in this month's publication."
     In the article, the magazine refers to ALLETE as " ... a 'Rodney
 Dangerfield' company, receiving only limited recognition from analysts and
 investors."  But, the magazine added, "In light of the company's strong
 fundamentals and long-term growth prospects, however, Better Investing's
 Securities Review Committee chose ALLETE as this month's Stock to Study."
     The BI Securities Review Committee chose ALLETE from a list of finalists
 in consideration for the "Stock to Study" distinction.  "We look for strong
 companies with solid management and significant long-term growth potential,"
 said Kevin Lamiman, associate editor of Better Investing.  "These factors led
 us to the consensus judgment that ALLETE fit the bill."
     While not a recommendation to invest, the information about ALLETE in
 Better Investing will give a large number of readers the opportunity to learn
 more about the company.  More information about NAIC can be found on the
 organization's web site, located on the Internet at
 http://www.better-investing.org
     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 12 /PRNewswire/ -- Better Investing magazine has
 chosen ALLETE (NYSE:   ALE) as its "Stock to Study" in its May, 2001 issue.  The
 magazine will be available on newsstands nationwide beginning April 17, and is
 also mailed directly to members of the National Association of Investors
 Corporation (NAIC).  NAIC is a widely respected, non-profit organization whose
 membership of 537,000 consists of investment clubs and individual investors
 across the United States.
     (Photo:  http://www.newscom.com/cgi-bin/prnh/20010308/ALLETELOGO )
     The seven-page feature includes an explanation of ALLETE's holdings, an
 extensive company earnings analysis, and an interview with ALLETE President
 and Chief Executive Officer Ed Russell.
     "Many of our shareholders already use Better Investing to help guide them
 in making investment decisions," Russell said.  "It's a highly read resource,
 and we're honored to be featured in this month's publication."
     In the article, the magazine refers to ALLETE as " ... a 'Rodney
 Dangerfield' company, receiving only limited recognition from analysts and
 investors."  But, the magazine added, "In light of the company's strong
 fundamentals and long-term growth prospects, however, Better Investing's
 Securities Review Committee chose ALLETE as this month's Stock to Study."
     The BI Securities Review Committee chose ALLETE from a list of finalists
 in consideration for the "Stock to Study" distinction.  "We look for strong
 companies with solid management and significant long-term growth potential,"
 said Kevin Lamiman, associate editor of Better Investing.  "These factors led
 us to the consensus judgment that ALLETE fit the bill."
     While not a recommendation to invest, the information about ALLETE in
 Better Investing will give a large number of readers the opportunity to learn
 more about the company.  More information about NAIC can be found on the
 organization's web site, located on the Internet at
 http://www.better-investing.org
     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