<DOCUMENT>
<TYPE>EX-21
<SEQUENCE>17
<FILENAME>l11135aexv21.txt
<DESCRIPTION>EX-21 KEYCORP SUBSIDIARIES OF THE REGISTRANT
<TEXT>
<PAGE>
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                                                                      EXHIBIT 21

                                     KEYCORP
               SUBSIDIARIES OF THE REGISTRANT AT DECEMBER 31, 2004

<TABLE>
<CAPTION>
                                 JURISDICTION
                               OF INCORPORATION
        SUBSIDIARIES(a)         OR ORGANIZATION    PARENT COMPANY
-----------------------------  ----------------  -------------------
<S>                            <C>               <C>
KeyBank National Association    United States        KeyCorp
</TABLE>

(a) Subsidiaries of KeyCorp other than KeyBank National Association are not
    listed above since, in the aggregate, they would not constitute a
    significant subsidiary. KeyBank National Association is 100% owned by
    KeyCorp.
</TEXT>
</DOCUMENT>