We present an analysis of five X-ray Multi-Mirror Mission (XMM) observations of the anomalous X-ray pulsar (AXP) 1E 2259+586 taken in 2004 and 2005 during its relaxation following its 2002 outburst. We compare these data with those of five previous XMM observations taken in 2002 and 2003, and find the observed flux decay is well described by a power-law of index -0.69+/-0.03. As of mid-2005, the source may still have been brighter than preoutburst, and was certainly hotter. We find a strong correlation between hardness and flux, as seen in other AXP outbursts. We discuss the implications of these results for the magnetar model.
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