KEYCORP /NEW/ — Director's Dealing 2005

Jan 4, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: KEYCORP /NEW/ (KEY)
CIK: 0000091576
Period of Report: 2005-01-03

Reporting Person: MINTER STEVEN A (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-01-03	common shares	M	628	$33.9	Acquired	38291	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-01-03	phantom shares	$33.9	M	628	Disposed	2005-01-03	common shares (628)	Direct

Footnotes

F1: Phantom shares were converted to treasury shares and distributed under Deferral Plan.

F2: Conversion to common shares is on a one-to-one basis.