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: 2007-07-19

Reporting Person: CARTWRIGHT CAROL A (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-07-19	Common Shares	M	1285	$30.56	Acquired	2905	Direct
2007-07-19	Common Shares	F	1067	$36.82	Disposed	1838	Direct
2007-07-23	Common Shares	M	1328	$36.42	Acquired	3166	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-07-20	Phantom Shares	$36.82	A	1901	Acquired	2010-07-20	Common Shares (1901)	Direct
2007-07-23	Phantom Shares	$36.42	M	2657	Disposed	2007-07-23	Common Shares (2657)	Direct
2007-07-19	Option to Buy	$30.56	M	1285	Disposed	2009-04-20	Common Shares (1285)	Direct

Footnotes

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

F2: Phantom Shares were distributed under Deferred Share Plan one half in cash and one half in Common Shares.