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ALLETE Automotive Services Names CFO

May 21, 2002

ALLETE Automotive Services, a subsidiary of ALLETE Inc., has named Paul Lips its chief financial officer. Lips will be responsible for all external and internal financial reporting and communications, analysis of financial performance and measurements, financial review of new business initiatives, and analysis of capital projects. He will also serve as a financial liaison between ALLETE Automotive Services and parent company, ALLETE Inc. A 1990 graduate from Ball State University, Lips joined ADESA Corp. in 1996 as assistant corporate controller. One year later, he was promoted to corporate controller at ADESA, ALLETE’s vehicle auction company. In 2001, Lips assumed the position of chief financial officer at ADESA. Lips will report to James Hallett, chairman and CEO of ALLETE Automotive Services.
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