KEYCORP /NEW/ — Director's Dealing 2004

Nov 5, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: KEYCORP /NEW/ (KEY)
CIK: 0000091576
Period of Report: 2004-11-04

Reporting Person: STEVENS THOMAS G (Director, Vice Chair and CAO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-11-04	common shares	M	40000	$19.53	Acquired	96120	Direct
2004-11-04	common shares	F	30713	$34	Disposed	65407	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-11-04	option to buy	$19.53	M	40000	Disposed	2006-07-01	common shares (40000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
common shares	21290	Indirect

Footnotes

F1: As of December 31, 2003.