Adesa Corporation Releases Pulse.

Business Editors, Automotive Writers

INDIANAPOLIS--(AutomotiveWire)--July 16, 2001

New vehicle sales are on track to achieve at least 16.5 million units for the year, and used vehicle sales are moving towards the million-unit increase for 2001, as projected in January, according to Pulse, a new quarterly publication in ADESA Corporation's ongoing Global Vehicle Remarketing series. In addition to information on the new and used vehicle markets, Pulse provides a survey and outlook of macroeconomic indicators, and in-depth analysis of pertinent statistics relating to the $77 billion vehicle remarketing industry. Pulse also drills down into ADESA's auction sales databases to provide trends by such market segments as program vehicles, off lease vehicles, commercial fleet vehicles and vehicles consigned by dealers.

"The vehicle remarketing industry is ever-changing and ADESA Corporation is playing an increasingly prominent role in its growth," said Jim Hallett, president and CEO of ADESA Corporation. "As an industry leader, ADESA strives to provide the most updated information to its key customers and we are certain Pulse will be of great value."

The study projects that while still strong, consumer spending will be an important indicator to watch in light of high consumer debt levels, negative savings rates and high fuel prices. Meanwhile, economic growth has softened, but it remains positive, and the recession that appeared so imminent to some analysts has thus far been avoided. Many economic indicators such as consumer confidence and unemployment rates took favorable turns in recent releases, though they remain down from the peak of the current expansion that took place during 1999 and the first half of 2000.

"I believe the soft landing the Fed has been trying to engineer is being achieved, new vehicle sales remain strong and dealers continue to make good money selling new and used inventories," said Tom Kontos, vice president, industry relations and analytical services for ADESA Corporation and author of Pulse. "On the downside, returning off-lease volumes -- especially for compact SUV's along with high new vehicle incentives, are resulting in average price declines at auctions compared to levels one year ago."

ADESA provides the Global Vehicle Remarketing series publications on a complementary basis to its clients and industry contacts. Future reports in this series will cover other markets throughout the world and specific topics such as the total loss recovery industry and the role of the Internet. For additional information and copies of ADESA's reports, call 1-800-923-3725, extension 2144 or visit the ADESA website at www.adesa.com.

Headquartered in Indianapolis, Indiana, ADESA Corporation is a wholly owned subsidiary of ALLETE (NYSE:ALE), a unique and diversified multi-services company. ADESA operates 54 wholesale vehicle auctions and five commercial truck sales strategically located across the United States and Canada. In addition, the Automotive Services segment of ALLETE operates several other related businesses in the vehicle remarketing industry including total loss recovery services, Automotive Finance Corporation (AFC) dealer financing, Great Rigs auto transporters, PAR remarketing services, AutoVIN Inspection Services and ADESA Importation Services (AIS).

The statements contained in this release and statements that ADESA 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. The forward-thinking statements involve risks and uncertainties and investors are directed to the risks in documents filed by ALLETE, ADESA Corporation's parent company, with the Securities and Exchange Commission.