KEYCORP /NEW/ — Director's Dealing 2003

Oct 21, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: KEYCORP /NEW/ (KEY)
CIK: 0000091576
Period of Report: 2003-10-20

Reporting Person: BARES WILLIAM G (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-10-20	Common Shares	M	7000	$16.3438	Acquired	11127	Direct
2003-10-20	Common Shares	D	4333	$26.4	Disposed	6794	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-10-20	Option to Buy	$16.3438	M	7000	Disposed	2004-03-17	Common Shares (7000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	4000	Indirect
Phantom Shares	28117	Indirect

Footnotes

F1: Under KeyCorp Director Deferred Compensation Plan, fees or a portion thereof are deferred into common shares account quarterly and are payable in treasury shares on date(s) set forth in deferral election.