KEYCORP /NEW/ — Director's Dealing 2007

Jul 23, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: KEYCORP /NEW/ (KEY)
CIK: 0000091576
Period of Report: 2007-07-20

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

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-07-20	Option to Buy	$36.20	A	100000	Acquired	2017-07-20	Common Shares (100000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	101976	Direct
Common Shares	294	Indirect

Footnotes

F1: As of December 31, 2006.

F2: Options vest in three annual installments.