KEYCORP /NEW/ — Director's Dealing 2005

Jul 22, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: KEYCORP /NEW/ (KEY)
CIK: 0000091576
Period of Report: 2005-07-22

Reporting Person: Dallas H James (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-07-22	phantom shares	$34.64	A	2020	Acquired	2008-07-22	common shares (2020)	Direct

Footnotes

F1: Phantom shares are awarded under Deferred Share Plan and are payable one half in cash and one half in common shares.