KEYCORP /NEW/ — Director's Dealing 2007

Feb 22, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: KEYCORP /NEW/ (KEY)
CIK: 0000091576
Period of Report: 2007-02-20

Reporting Person: Morris Robert L (Chief Accounting Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-02-20	Common Shares	F	332	$39.58	Disposed	3461	Direct
2007-02-20	Common Shares	M	17	$39.58	Acquired	3478	Direct
2007-02-20	Common Shares	A	1101	—	Acquired	4579	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-02-20	Restricted Stock Units	$39.75	A	1101	Acquired	2010-02-20	Common Shares (1101)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	4310	Indirect

Footnotes

F1: Award of restricted shares.

F2: As of December 31, 2006.