KEYCORP /NEW/ — Director's Dealing 2004

Oct 27, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: KEYCORP /NEW/ (KEY)
CIK: 0000091576
Period of Report: 2004-10-26

Reporting Person: IRVING LEROY G (EVP)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-10-26	common shares	M	25000	$17.12	Acquired	99539	Direct
2004-10-26	common shares	F	18091	$32.95	Disposed	81448	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-10-26	option to buy	$17.12	M	25000	Disposed	2006-01-17	common shares (25000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
common shares	11939	Indirect

Footnotes

F1: As of December 31, 2003.