KEYCORP /NEW/ — Director's Dealing 2003

Aug 5, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: KEYCORP /NEW/ (KEY)
CIK: 0000091576
Period of Report: 2003-08-04

Reporting Person: KOPINSKY JACK L (Senior Exec. Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-08-04	Common Shares	M	8000	$14.9375	Acquired	62672	Direct
2003-08-04	Common Shares	F	5616	$26.58	Disposed	57056	Direct
2003-08-04	Common Shares	M	8000	$14.9375	Acquired	65056	Direct
2003-08-04	Common Shares	F	5616	$26.58	Disposed	59440	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-08-04	Non-Qualified Stock Option	$14.9375	M	8000	Disposed	2004-01-02	Common Shares (8000)	Direct
2003-08-04	Non-Qualified Stock Option	$14.9375	M	8000	Disposed	2004-01-02	Common Shares (8000)	Direct

Footnotes

F1: Reporting person also owns 10,286 shares in the Corporation's 401(k) Savings Plan as of December 31, 2002, 6,007 phantom shares in the Corporation's Excess 401(k) Savings Plan as of December 31, 2002, and 1,030 phantom shares in the Corporation Deferred Compensation Plan as of December 31, 2002.

F2: Right to buy.