KEYCORP /NEW/ — Director's Dealing 2005

Jan 26, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: KEYCORP /NEW/ (KEY)
CIK: 0000091576
Period of Report: 2005-01-25

Reporting Person: MCGREGOR DOUGLAS J (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-01-25	common shares	M	6400	$19.25	Acquired	10100	Direct
2005-01-25	common shares	F	3700	$33.295	Disposed	6400	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-01-25	option to buy	$19.25	M	6400	Disposed	2006-04-23	common shares (6400)	Direct