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: BUNN THOMAS W (Vice Chair)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-02-20	Common Shares	F	4531	$39.58	Disposed	54591	Direct
2007-02-20	Common Shares	M	507	$39.58	Acquired	55098	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-02-20	Phantom Shares	$39.58	F	4487	Disposed	2007-02-20	Common Shares (4487)	Direct
2007-02-20	Phantom Shares	$39.58	M	8679	Disposed	2007-02-20	Common Shares (8679)	Direct
2007-02-20	Phantom Shares	$39.75	A	20440	Acquired	2010-02-20	Common Shares (20440)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	1813	Indirect

Footnotes

F1: As of December 31, 2006.

F2: Performance Shares payable in cash were paid and units were withheld for taxes.

F3: Performance Shares payable in cash.