The Collaborative International Dictionary of English v.0.48:

Allocate \Al"lo*cate\, v. t. [LL. allocatus, p. p. of allocare,
   fr. L. ad + locare to place. See Allow.]
   1. To distribute or assign; to allot. --Burke.
      [1913 Webster]

   2. To localize. [R.]
      [1913 Webster]

WordNet (r) 3.0 (2006):

allocate
    v 1: distribute according to a plan or set apart for a special
         purpose; "I am allocating a loaf of bread to everyone on a
         daily basis"; "I'm allocating the rations for the camping
         trip" [syn: allocate, apportion]

Moby Thesaurus II by Grady Ward, 1.0:

63 Moby Thesaurus words for "allocate":
   align, allot, allow, appoint, apportion, appropriate to, array,
   assign, assign to, collocate, compose, deal, deal out, deploy,
   destine, detail, dispose, distribute, earmark, emplace, fate, fix,
   get a fix, give, home in on, install, line, line up, localize,
   locate, lot, make assignments, mark off, mark out for, marshal,
   mete out, navigate, ordain, parcel out, pin down, pinpoint, place,
   portion off, position, put in place, rally, range, regiment,
   reserve, restrict, restrict to, schedule, set, set apart,
   set aside, set off, set out, situate, space, spot, tag,
   triangulate, zero in on