George Goldfarb Named to ALLETE Board of Directors

George Goldfarb Named to ALLETE Board of Directors

DULUTH, Minn.--(BUSINESS WIRE)-- ALLETE, Inc. (NYS: ALE) announced today that George Goldfarb has joined ALLETE's board of directors.

Goldfarb is the President of Duluth based clothing retailer, Maurices, a wholly owned subsidiary of Ascena Retail Group, Inc. (NASDAQ - ASNA), a publicly traded company, recently named to Fortune magazine's list of "100 fastest growing companies" with estimated annual revenues of $5 billion. He was elected by ALLETE'S Board of Directors at its October 26, 2012 meeting.

Goldfarb whose career spans 25 years with Maurices oversees all aspects of its operations with over $850 million in annual revenue and more than 800 stores nationwide and in Canada. Goldfarb joined Maurices in 1985 and has held a variety of roles including Chief Financial Officer and Executive Vice President and Chief Operating Officer. Prior to joining Maurices, Goldfarb worked in public accounting at Kolquist, Seitz and Goldman.

"We are pleased to welcome George to the board," said ALLETE Chairman, President and CEO Al Hodnik. "George brings a strong sense of values and is widely recognized for his vision, skilled leadership and strategic planning while overseeing a rapidly growing company. We look forward to his input and contributions to the growth initiatives at ALLETE, as well as his keen knowledge of northern Minnesota."

Goldfarb is a University of Minnesota, Duluth Bachelor of Accounting graduate. He is a member of the boards of the Labovitz School of Business and Economics in Duluth, Area Partnership for Economic Expansion (APEX), US Bank, and Duluth Legacy Endowment Fund. In 2010 Goldfarb was recognized as Business Person of the year at the annual Joel Labovitz Entrepreneurial Success Awards in Duluth.

ALLETE, Inc. is an energy company headquartered in Duluth, Minnesota. ALLETE's energy businesses include Minnesota Power, Superior Water, Light & Power Co., BNI Coal, and ALLETE Clean Energy. More information about the company is available at

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.

Tim Thorp, 218-723-3953

KEYWORDS: United States North America Minnesota


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