<DOCUMENT>
<TYPE>EX-21
<SEQUENCE>15
<FILENAME>l97974aexv21.txt
<DESCRIPTION>EX-21   SUBSIDIARIES OF THE REGISTRANT
<TEXT>
<PAGE>
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                                                                      EXHIBIT 21

              SUBSIDIARIES OF THE REGISTRANT AT FEBRUARY 28, 2003

<Table>
<Caption>
                                                  JURISDICTION
                                                OF INCORPORATION
               SUBSIDIARIES(A)                  OR ORGANIZATION             PARENT COMPANY
----------------------------------------------  ----------------  ----------------------------------
<S>                                             <C>               <C>
KeyBank National Association                     United States                 KeyCorp
Key Bank USA, National Association               United States                 KeyCorp
</Table>

(a) Subsidiaries of KeyCorp other than KeyBank National Association and Key Bank
    USA, National Association are not listed above since, in the aggregate, they
    would not constitute a significant subsidiary. KeyBank National Association
    and Key Bank USA, National Association are 100% owned by KeyCorp.

</TEXT>
</DOCUMENT>