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Letter to the Editor

ADESA Announces Spin-Off Date from ALLETE

On September 20, 2004, ALLETE plans to distribute all of the shares of ADESA that it owns to its shareholders of record as of September 13, 2004. ADESA and ALLETE anticipate that one share of ADESA common stock will be distributed for each share of ALLETE common stock outstanding. The distribution is structured to qualify as a tax-free stock dividend to ALLETE shareholders and will be done in book-entry form.

Given the nature of the transaction, any holder of ALLETE common stock who sells shares on or before September 20 will also be selling their entitlement to receive shares of ADESA common stock in the spin-off. Investors are encouraged to consult with their financial advisors regarding the specific implications of selling ALLETE common stock before the spin-off.

David Gartzke, Chairman of both ALLETE and ADESA, commented, "We are very pleased to report that the full separation of these companies is imminent. Both companies are well positioned for the future." Mr. Gartzke will continue as ADESA's Chairman, CEO and President and will resign as Chairman of ALLETE upon the distribution.

ADESA, headquartered in Carmel, IN, completed its initial public offering of 6.25 million primary shares in June, 2004. ADESA's holdings include 53 ADESA used vehicle auctions, 28 Impact salvage auctions and 81 AFC loan production offices across North America.

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