Exhibit 99.1

News
		KeyCorp 127 Public Square Cleveland, OH 44114

CONTACTS:		ANALYSTS		MEDIA
		Vernon L. Patterson		William C. Murschel
		216.689.0520		216.828.7416
		Vernon_Patterson@KeyBank.com		William_C_Murschel@KeyBank.com
		Christopher F. Sikora
		216.689.3133
		Chris_F_Sikora@KeyBank.com
INVESTOR				KEY MEDIA
RELATIONS:		www.key.com/ir		NEWSROOM: www.key.com/newsroom

FOR IMMEDIATE RELEASE

KEYCORP REPORTS FIRST QUARTER 2010 RESULTS

¨		Net loss from continuing operations narrows to $.11 per common share
¨		Net interest margin increases to 3.19%
¨		Nonperforming loans decrease by $122 million from fourth quarter of 2009 to 3.69% of portfolio loans
¨		Net charge-offs decline $186 million from fourth quarter 2009
¨		Loan loss reserve at $2.4 billion, or 4.34% of total loans
¨		Capital and liquidity positions remain strong
¨		Tier 1 common equity and Tier 1 risk-based capital ratios of 7.53% and 12.96%, respectively
¨		$5.3 billion in new or renewed lending commitments originated

     CLEVELAND, April 21, 2010 — KeyCorp (NYSE: KEY) today announced a first quarter net loss from continuing operations attributable to Key common shareholders of $98 million, or $.11 per common share. These results compare to a net loss from continuing operations attributable to Key common shareholders of $507 million, or $1.03 per common share, for the first quarter of 2009. The first quarter of 2009 was negatively impacted by an $847 million loan loss provision and a $196 million ($164 million after tax) intangible assets impairment charge.

     A lower provision for loan losses and continued expense control resulted in a narrowing of Key’s first-quarter loss when compared to the fourth quarter of 2009. Net charge-offs declined by $186 million, and nonperforming loans showed continued improvement decreasing by $122 million from December 31, 2009. Key also experienced reduced expenses due to lower personnel expense and efficiency initiative efforts as well as a decrease in the provision for losses on lending-related commitments.

     “These results are encouraging and reflect our persistent focus over recent quarters to ensure that Key emerges strong and ready to grow as the economic recovery continues to take hold,” said Chief Executive Officer Henry L. Meyer III. “Particularly notable in the results is the improvement in net interest margin, a decrease in nonperforming loans for the second quarter in a row, and good expense control.”

     Meyer continued: “We are positioning Key for an improving economy. We have reduced our risk, continue to emphasize our core relationship businesses, and our balance sheet reflects strong capital, liquidity and loan loss reserve levels.”

KeyCorp Reports First Quarter 2010 Results
April 21, 2010
Page 2

     At March 31, 2010, Key’s estimated Tier 1 common equity and Tier 1 risk-based capital ratios were 7.53% and 12.96%, respectively.

     The Company originated approximately $5.3 billion in new or renewed lending commitments to consumers and businesses during the quarter.

     Key continues to invest in its relationship businesses, including its 14-state branch network. Meyer noted that Key opened eight new branches in the first quarter, expects to open an additional 32 new branches during the remainder of 2010, and continues to modernize its existing branches. The new and modernized branches underscore Key’s relationship strategy by leveraging its branch network to offer the full breadth of solutions, expertise, services and products that Key has to offer. Additionally, Key received recognition from Corporate Insight’s 2009 Bank Monitor which highlights firms that excel in key areas of the online banking experience. Key had previously been named a Customer Service Champion by BusinessWeek in its March 2009 edition. The Company is positioning its branch and online capabilities to enhance growth as the economy turns.

     During the quarter, Christopher M. Gorman was promoted to senior executive vice president and head of Key’s National Banking business. He also became vice chairman of KeyBank National Association. Mr. Gorman has been with Key for the past 19 years and was most recently president of KeyBanc Capital Markets. In his new role, Gorman is responsible for Key’s corporate, investment banking, capital markets, commercial real estate and equipment finance businesses.

     The following table shows Key’s continuing and discontinued operating results for the three-month periods ended March 31, 2010, December 31, 2009, and March 31, 2009.

Results of Operations

		Three months ended
in millions, except per share amounts		3-31-10				12-31-09				3-31-09
Summary of operations
Income (loss) from continuing operations attributable to Key		$	(57	)		$	(217	)		$	(459	)
Income (loss) from discontinued operations, net of taxes (a)			2				(7	)			(29	)
Net income (loss) attributable to Key		$	(55	)		$	(224	)		$	(488	)
Income (loss) from continuing operations attributable to Key		$	(57	)		$	(217	)		$	(459	)
Less: Dividends on Series A Preferred Stock			6				5				12
Cash dividends on Series B Preferred Stock			31				31				32
Amortization of discount on Series B Preferred Stock			4				5				4
Income (loss) from continuing operations attributable to Key common shareholders			(98	)			(258	)			(507	)
Income (loss) from discontinued operations, net of taxes (a)			2				(7	)			(29	)
Net income (loss) attributable to Key common shareholders		$	(96	)		$	(265	)		$	(536	)
Per common share — assuming dilution
Income (loss) from continuing operations attributable to Key common shareholders		$	(.11	)		$	(.30	)		$	(1.03	)
Income (loss) from discontinued operations, net of taxes (a)			—				(.01	)			(.06	)
Net income (loss) attributable to Key common shareholders (b)		$	(.11	)		$	(.30	)		$	(1.09	)

(a)		In September 2009, management made the decision to discontinue the education lending business conducted through Key Education Resources, the education payment and financing unit of KeyBank National Association. In April 2009, management made the decision to curtail the operations of Austin Capital Management, Ltd., an investment subsidiary that specializes in managing hedge fund investments for its institutional customer base. As a result of these decisions, Key has accounted for these businesses as discontinued operations. Included in the loss from discontinued operations for the three-month period ended March 31, 2009, is a $23 million after tax, or $.05 per common share, charge for intangible assets impairment related to Austin Capital Management.
(b)		Earnings per share may not foot due to rounding.

KeyCorp Reports First Quarter 2010 Results
April 21, 2010
Page 3

     As shown in the following table, the comparability of Key’s earnings for the current, prior and year-ago quarters is affected by several significant items.

Significant Items Affecting the Comparability of Earnings

		First Quarter 2010												Fourth Quarter 2009												First Quarter 2009
		Pre-tax				After-tax				Impact				Pre-tax				After-tax				Impact				Pre-tax				After-tax				Impact
in millions, except per share amounts		Amount				Amount				on EPS				Amount				Amount				on EPS				Amount				Amount				on EPS
Provision for loan losses less (in excess of) net charge-offs		$	109			$	68			$	.08			$	(48	)		$	(31	)		$	(.04	)		$	(387	)		$	(242	)		$	(.49	)
Net gains (losses) from principal investing (a)			21				13				.02				44				28				.03				(63	)			(39	)			(.08	)
Realized and unrealized gains (losses) on loan and securities portfolios held for sale or trading			(11	)			(7	)			(.01	)			(92	)			(58	)			(.07	)			—				—				—
Credits related to IRS audits and leveraged lease tax litigation			—				—				—				—				106				.12				—				—				—
(Provision) credit for losses on lending-related commitments			2				1				—				(27	)			(17	)			(.02	)			—				—				—
Noncash charge for intangible assets impairment			—				—				—				—				—				—				(196	) (b)			(164	) (b)			(.33	) (b)
Gain from sale/redemption of Visa Inc. shares			—				—				—				—				—				—				105				65				.13

(a)		Excludes principal investing results attributable to noncontrolling interests.
(b)		Excludes a $27 million ($23 million after tax, or $.05 per common share) charge for intangible assets impairment related to the discontinued operations of Austin Capital Management, Ltd.

EPS = Earnings per common share

SUMMARY OF CONTINUING OPERATIONS

     Taxable-equivalent net interest income was $632 million for the first quarter of 2010, and the net interest margin was 3.19%. These results compare to taxable-equivalent net interest income of $595 million and a net interest margin of 2.79% for the first quarter of 2009. The improvement in the net interest margin is primarily attributable to lower funding costs and improved yields on loans. During the past year the Company has experienced an improvement in the mix of deposits, resulting in a lower level of higher costing certificates of deposit and an increase in lower costing transaction accounts. The Company expects this change in funding mix to continue as higher costing certificates of deposit mature and are repriced to current market rates. This repricing and changing the mix of deposits should continue to benefit the Company’s net interest margin for the remaining quarters of 2010. Funding costs were also reduced by maturities of long-term debt and the 2009 exchanges of retail trust preferred securities for Key common shares.

     Compared to the fourth quarter of 2009, taxable-equivalent net interest income decreased by $5 million, and the net interest margin rose by 15 basis points. The increase in the net interest margin resulting from the improved funding mix was mostly offset by the lower day count and reduced average earning assets in the first quarter of 2010 compared to the fourth quarter of 2009.

     Key’s noninterest income was $450 million for the first quarter of 2010, compared to $478 million for the year-ago quarter. The decrease reflects a $105 million gain from the sale of Visa Inc. shares during the first quarter of 2009. In addition, operating lease income and gains on leased equipment decreased by $14 million and $18 million, respectively, compared to the first quarter of 2009 due to a lower level of leasing activity. Net gains of $37 million in the first quarter of 2010 from principal investing (including results attributable to noncontrolling interests), compared to net losses of $72 million for the same period last year, partially offset this decline in noninterest income.

KeyCorp Reports First Quarter 2010 Results
April 21, 2010
Page 4

     The major components of Key’s fee-based income for the past five quarters are shown in the following table.

Fee-based Income – Major Components

in millions		1Q10				4Q09				3Q09				2Q09				1Q09
Trust and investment services income		$	114			$	117			$	113			$	119			$	110
Service charges on deposit accounts			76				82				83				83				82
Operating lease income			47				52				55				59				61
Letter of credit and loan fees			40				52				46				44				38
Corporate-owned life insurance income			28				36				26				25				27
Electronic banking fees			27				27				27				27				24
Insurance income			18				16				18				16				18
Net gains (losses) from principal investing			37				80				(6	)			(6	)			(72	)
Investment banking and capital markets income (loss)			9				(47	)			(26	)			14				17

     Compared to the fourth quarter of 2009, noninterest income decreased by $19 million. This lower noninterest income resulted from a decrease of $43 million in principal investing results (including results attributable to noncontrolling interests), a $12 million decrease in letter of credit and loan fees, an $8 million decrease in income from corporate owned life insurance as well as decreases in various other miscellaneous income components. The negative effect of these factors was partially offset by a $56 million increase in results from investment banking and capital markets activities that was primarily attributable to changes in the fair values of certain commercial real estate related investments in the fourth quarter of 2009.

     Key’s noninterest expense was $785 million for the first quarter of 2010, compared to $927 million for the same period last year. Noninterest expense for the first quarter of 2009 was adversely affected by an intangible assets impairment charge of $196 million. Excluding this charge, noninterest expense for the current quarter was up $54 million, or 7%, from the year-ago quarter. Personnel expense increased by $3 million while nonpersonnel expense rose by $51 million, reflecting increases of $26 million in costs associated with OREO, including write-downs and losses on sales, and various other expense categories.

     Compared to the fourth quarter of 2009, noninterest expense decreased by $86 million. Personnel expense decreased by $38 million, due largely to lower incentive compensation. Nonpersonnel expense decreased by $48 million, reflecting a decrease in the provision for losses on lending-related commitments of $29 million, a $25 million reduction in professional fees and a decrease in operating lease expense of $11 million. These items were partially offset by a $22 million increase in various other expense categories.

ASSET QUALITY

     Key’s provision for loan losses was $413 million for the first quarter of 2010, compared to $847 million for the year-ago quarter and $756 million for the fourth quarter of 2009. Key’s allowance for loan losses was $2.4 billion, or 4.34% of total loans, at March 31, 2010, compared to 4.31% at December 31, 2009, and 2.88% at March 31, 2009.

KeyCorp Reports First Quarter 2010 Results
April 21, 2010
Page 5

     Selected asset quality statistics for Key for each of the past five quarters are presented in the following table.

Selected Asset Quality Statistics from Continuing Operations

dollars in millions		1Q10				4Q09				3Q09				2Q09				1Q09
Net loan charge-offs		$	522			$	708			$	587			$	502			$	460
Net loan charge-offs to average loans			3.67	%			4.64	%			3.59	%			2.93	%			2.60	%
Allowance for loan losses		$	2,425			$	2,534			$	2,485			$	2,339			$	2,016
Allowance for credit losses (a)			2,544				2,655				2,579				2,404				2,070
Allowance for loan losses to period-end loans			4.34	%			4.31	%			4.00	%			3.48	%			2.88	%
Allowance for credit losses to period-end loans			4.55				4.52				4.15				3.58				2.96
Allowance for loan losses to nonperforming loans			117.43				115.87				108.52				107.05				116.20
Allowance for credit losses to nonperforming loans			123.20				121.40				112.62				110.02				119.31
Nonperforming loans at period end		$	2,065			$	2,187			$	2,290			$	2,185			$	1,735
Nonperforming assets at period end			2,428				2,510				2,799				2,548				1,994
Nonperforming loans to period-end portfolio loans			3.69	%			3.72	%			3.68	%			3.25	%			2.48	%
Nonperforming assets to period-end portfolio loans plus OREO and other nonperforming assets			4.31				4.25				4.46				3.77				2.84

(a)

Includes the allowance for loan losses plus the liability for credit losses on lending-related commitments.

     Net loan charge-offs for the quarter totaled $522 million, or 3.67% of average loans. These results compare to $460 million, or 2.60%, for the same period last year and $708 million, or 4.64%, for the previous quarter.

     Key’s net loan charge-offs by loan type for each of the past five quarters are shown in the following table.

Net Loan Charge-offs from Continuing Operations

dollars in millions		1Q10				4Q09				3Q09				2Q09				1Q09
Commercial, financial and agricultural		$	126			$	218			$	168			$	168			$	232
Real estate — commercial mortgage			106				165				81				87				21
Real estate — construction			157				181				216				133				104
Commercial lease financing			21				39				27				22				18
Total commercial loans			410				603				492				410				375
Home equity — Community Banking			30				27				25				24				17
Home equity — Other			17				19				20				18				15
Marine			38				33				25				29				32
Other			27				26				25				21				21
Total consumer loans			112				105				95				92				85
Total net loan charge-offs		$	522			$	708			$	587			$	502			$	460
Net loan charge-offs to average loans from continuing operations			3.67	%			4.64	%			3.59	%			2.93	%			2.60	%
Net loan charge-offs from discontinued operations — education lending business		$	36			$	36			$	38			$	37			$	32

     Compared to the fourth quarter of 2009, net loan charge-offs in the commercial loan portfolio decreased by $193 million. The decrease was attributable to declines in both the commercial, financial and agricultural and real estate commercial mortgage and construction lines of business. The level of net charge-offs in the consumer portfolio rose by $7 million. As shown in the table on page 6, Key’s exit loan portfolio accounted for $153 million, or 29%, of Key’s total net loan charge-offs for the first quarter of 2010. Net charge-offs in the exit portfolio increased by $12 million from the fourth quarter of 2009. Management expects net charge-offs to remain elevated in 2010, but to continue to improve from the first quarter level in future quarters.

     At March 31, 2010, Key’s nonperforming loans totaled $2.1 billion and represented 3.69% of period-end portfolio loans, compared to 3.72% at December 31, 2009, and 2.48% at March 31, 2009. Nonperforming assets at March 31, 2010, totaled $2.4 billion and represented

KeyCorp Reports First Quarter 2010 Results
April 21, 2010
Page 6

4.31% of portfolio loans, OREO and other nonperforming assets, compared to 4.25% at December 31, 2009, and 2.84% at March 31, 2009. The following table illustrates the trend in Key’s nonperforming assets by loan type over the past five quarters.

Nonperforming Assets from Continuing Operations

dollars in millions		1Q10				4Q09				3Q09				2Q09				1Q09
Commercial, financial and agricultural		$	558			$	586			$	679			$	700			$	595
Real estate — commercial mortgage			579				614				566				454				310
Real estate — construction			607				641				702				716				546
Commercial lease financing			99				113				131				122				109
Total consumer loans			222				233				212				193				175
Total nonperforming loans			2,065				2,187				2,290				2,185				1,735
Nonperforming loans held for sale			195				116				304				145				72
OREO and other nonperforming assets			168				207				205				218				187
Total nonperforming assets		$	2,428			$	2,510			$	2,799			$	2,548			$	1,994
Restructured loans included in nonperforming loans (a)		$	226			$	364			$	65			$	7				—
Nonperforming assets from discontinued operations — education lending business			43				14				12				3			$	3
Nonperforming loans to period-end portfolio loans			3.69	%			3.72	%			3.68	%			3.25	%			2.48	%
Nonperforming assets to period-end portfolio loans, plus OREO and other nonperforming assets			4.31				4.25				4.46				3.77				2.84

(a)		Restructured loans (i.e. troubled debt restructurings) are those for which Key, for reasons related to a borrower’s financial difficulties, grants a concession to the borrower that it would not otherwise consider. These concessions are made to improve the collectability of the loan and generally take the form of a reduction of the interest rate, extension of the maturity date or reduction in the principal balance.

     Nonperforming assets decreased during the first quarter of 2010 which represents the second quarterly decline. Most of the reduction came from nonperforming loans and OREO in the commercial real estate line of business. These reductions were offset in part by an increase in nonperforming loans held for sale. As shown in the following table, Key’s exit loan portfolio accounted for $499 million, or 21%, of Key’s total nonperforming assets at March 31, 2010, compared to $599 million, or 24%, at December 31, 2009.

     The composition of Key’s exit loan portfolio at March 31, 2010, and December 31, 2009, the net charge-offs recorded on this portfolio for the first quarter of 2010 and the fourth quarter of 2009, and the nonperforming status of these loans at March 31, 2010, and December 31, 2009, are shown in the following table.

Exit Loan Portfolio from Continuing Operations

																						Balance on
		Balance								Change				Net Loan								Nonperforming
		Outstanding								3-31-10 vs.				Charge-offs								Status
in millions		3-31-10				12-31-09				12-31-09				1Q10				4Q09				3-31-10				12-31-09
Residential properties — homebuilder		$	269			$	379			$	(110	)		$	44			$	53			$	167			$	211
Residential properties — held for sale			40				52				(12	)			—				—				40				52
Total residential properties			309				431				(122	)			44				53				207				263
Marine and RV floor plan			339				427				(88	)			28				16				66				93
Commercial lease financing (a)			2,685				2,875				(190	)			22				17				191				195
Total commercial loans			3,333				3,733				(400	)			94				86				464				551
Home equity — Other			795				838				(43	)			17				19				18				20
Marine			2,636				2,787				(151	)			38				33				16				26
RV and other consumer			201				216				(15	)			4				3				1				2
Total consumer loans			3,632				3,841				(209	)			59				55				35				48
Total exit loans in loan portfolio		$	6,965			$	7,574			$	(609	)		$	153			$	141			$	499			$	599
Discontinued operations — education lending business		$	6,268	(b)		$	3,957			$	2,311			$	36			$	36			$	42			$	13

(a)		Includes the business aviation, commercial vehicle, office products, construction and industrial leases, and Canadian lease financing portfolios; and all remaining balances related to lease in, lease out; sale in, sale out; service contract leases and qualified technological equipment leases.
(b)		Includes loans in Key’s education loan securitization trusts consolidated upon the adoption of new consolidation accounting guidance on January 1, 2010.

KeyCorp Reports First Quarter 2010 Results
April 21, 2010
Page 7

CAPITAL

     Key’s risk-based capital ratios included in the following table continued to exceed all “well-capitalized” regulatory benchmarks at March 31, 2010.

Capital Ratios

		3-31-10				12-31-09				9-30-09				6-30-09				3-31-09
Tier 1 common equity (a)			7.53	%			7.50	%			7.64	%			7.36	%			5.62	%
Tier 1 risk-based capital (a)			12.96				12.75				12.61				12.57				11.22
Total risk-based capital (a)			17.11				16.95				16.65				16.67				15.18
Tangible common equity to tangible assets			7.37				7.56				7.58				7.35				6.06

(a) March 31, 2010 ratio is estimated.

     As shown in the preceding table, at March 31, 2010, Key had a Tier 1 common equity ratio of 7.53%, a Tier 1 risk-based capital ratio of 12.96%, and a tangible common equity ratio of 7.37%.

     Transactions that caused the change in Key’s outstanding common shares over the past five quarters are summarized in the following table.

Summary of Changes in Common Shares Outstanding

in thousands		1Q10				4Q09				3Q09				2Q09				1Q09
Shares outstanding at beginning of period			878,535				878,559				797,246				498,573				495,002
Common shares exchanged for capital securities			—				—				81,278				46,338				—
Common shares exchanged for Series A Preferred Stock			—				—				—				46,602				—
Common shares issued			—				—				—				205,439				—
Shares reissued (returned) under employee benefit plans			517				(24	)			35				294				3,571
Shares outstanding at end of period			879,052				878,535				878,559				797,246				498,573

     During the first quarter of 2010, Key made a $31 million cash dividend payment to the U.S. Treasury Department. During 2009, Key made four quarterly dividend payments aggregating $125 million to the U.S. Treasury Department as a participant in the U.S. Treasury’s Capital Purchase Program.

KeyCorp Reports First Quarter 2010 Results
April 21, 2010
Page 8

LINE OF BUSINESS RESULTS

     The following table shows the contribution made by each major business group to Key’s taxable-equivalent revenue from continuing operations and income (loss) from continuing operations attributable to Key for the periods presented. The specific lines of business that comprise each of the major business groups are described under the heading “Line of Business Descriptions.” During the first quarter of 2010, Key re-aligned its reporting structure for its business groups. Previously, Consumer Finance consisted mainly of portfolios which were identified as exit or run-off portfolios and were included in Key’s National Banking segment. Effective for all periods presented, Key is reflecting the results of these exit portfolios in Other Segments. The automobile dealer floor plan business, previously included in Consumer Finance, has been re-aligned with the Commercial Banking line of business within the Community Banking segment. In addition, other previously identified exit portfolios included in the National Banking segment, including $309 million of homebuilder loans from the Real Estate Capital line of business and $2.685 billion of commercial leases from the Equipment Finance line of business, have been moved to Other Segments. For more detailed financial information pertaining to each business group and its respective lines of business, see the tables at the end of this release.

Major Business Groups

														Percent change 1Q10 vs.
dollars in millions		1Q10				4Q09				1Q09				4Q09				1Q09
Revenue from continuing operations (TE)
Community Banking		$	599			$	629			$	612				(4.8	)%			(2.1	)%
National Banking (a)			376				342				423				9.9				(11.1	)
Other Segments			96				128				(39	)			(25.0	)			N/M
Total Segments			1,071				1,099				996				(2.5	)			7.5
Reconciling Items (b)			11				7				77				57.1				(85.7	)
Total		$	1,082			$	1,106			$	1,073				(2.2	)%			.8	%
Income (loss) from continuing operations attributable to Key
Community Banking		$	5			$	(41	)		$	12				N/M				(58.3	)%
National Banking (a)			(33	)			(211	)			(394	)			84.4	%			91.6
Other Segments			(46	)			(58	)			(162	)			20.7				71.6
Total Segments			(74	)			(310	)			(544	)			76.1				86.4
Reconciling Items (b)			17				93				85				(81.7	)			(80.0	)
Total		$	(57	)		$	(217	)		$	(459	)			73.7	%			87.6	%

(a)		National Banking’s results for the first quarter of 2009 include a noncash charge for intangible assets impairment of $196 million ($164 million after tax).
(b)		Reconciling Items for the first quarter of 2009 included a $105 million ($65 million after tax) gain from the sale of Key’s remaining equity interest in Visa Inc.
TE = Taxable Equivalent, N/M = Not Meaningful

KeyCorp Reports First Quarter 2010 Results
April 21, 2010
Page 9

Community Banking

														Percent change 1Q10 vs.
dollars in millions		1Q10				4Q09				1Q09				4Q09				1Q09
Summary of operations
Net interest income (TE)		$	412			$	431			$	423				(4.4	)%			(2.6	)%
Noninterest income			187				198				189				(5.6	)			(1.1	)
Total revenue (TE)			599				629				612				(4.8	)			(2.1	)
Provision for loan losses			142				230				141				(38.3	)			.7
Noninterest expense			468				492				468				(4.9	)			—
Income (loss) before income taxes (TE)			(11	)			(93	)			3				88.2				N/M
Allocated income taxes and TE adjustments			(16	)			(52	)			(9	)			69.2	%			(77.8	)
Net income (loss) attributable to Key		$	5			$	(41	)		$	12				N/M				(58.3	)%
Average balances
Loans and leases		$	27,769			$	28,321			$	31,275				(1.9	)%			(11.2	)%
Total assets			30,873				31,048				34,171				(.6	)			(9.7	)
Deposits			51,459				52,640				51,655				(2.2	)			(.4	)
Assets under management at period end		$	18,248			$	17,709			$	14,205				3.0	%			28.5	%

TE = Taxable Equivalent, N/M = Not Meaningful

Additional Community Banking Data

														Percent change 1Q10 vs.
dollars in millions		1Q10				4Q09				1Q09				4Q09				1Q09
Average deposits outstanding
NOW and money market deposit accounts		$	18,650			$	17,930			$	17,376				4.0	%			7.3	%
Savings deposits			1,814				1,785				1,721				1.6				5.4
Certificates of deposit ($100,000 or more)			7,363				8,165				8,491				(9.8	)			(13.3	)
Other time deposits			12,559				13,708				14,723				(8.4	)			(14.7	)
Deposits in foreign office			502				529				714				(5.1	)			(29.7	)
Noninterest-bearing deposits			10,571				10,523				8,630				.5				22.5
Total deposits		$	51,459			$	52,640			$	51,655				(2.2	)%			(.4	)%
Home equity loans
Average balance		$	9,967			$	10,101			$	10,277
Weighted-average loan-to-value ratio (at date of origination)			70	%			70	%			70	%
Percent first lien positions			53				53				53
Other data
Branches			1,014				1,007				989
Automated teller machines			1,501				1,495				1,479

Community Banking Summary of Operations

     Community Banking recorded net income attributable to Key of $5 million for the first quarter of 2010, compared to net income attributable to Key of $12 million for the year-ago quarter. Decreases in net interest income and noninterest income caused the decline.

     Taxable-equivalent net interest income declined by $11 million, or 3%, from the first quarter of 2009, due to a reduction in average earning assets which declined by $4 billion or 11%, from the year-ago quarter. Average deposits declined slightly from the first quarter of 2009. The mix of deposits has changed reflecting strong growth in noninterest-bearing deposits and negotiable order of withdrawal (“NOW”) accounts, as higher-costing certificates of deposit originated in prior years mature and reprice to current market rates.

     Noninterest income decreased by $2 million, or 1%, from the year-ago quarter, due to lower service charges on deposits and an increase in the reserve for credit losses from client derivatives. These factors were partially offset by higher income from trust and investment services, letter of credit fees and electronic banking fees. Assets under management have increased 29% from the same period one year ago.

     The provision for loan losses increased slightly compared to the first quarter of 2009. Community Banking’s provision for loan losses for the first quarter of 2010 exceeded its net

KeyCorp Reports First Quarter 2010 Results
April 21, 2010
Page 10

loan charge-offs by $26 million as consumer and business clients continue to experience lingering effects from the economic downturn and elevated unemployment levels.

     Noninterest expense remained flat from the year-ago quarter. Lower personnel costs, marketing, office supplies and printing, and a reduction in the provision for losses on lending-related commitments were offset by increases in FDIC deposit insurance, occupancy cost, and various other expense categories.

National Banking

														Percent change 1Q10 vs.
dollars in millions		1Q10				4Q09				1Q09				4Q09				1Q09
Summary of operations
Net interest income (TE)		$	197			$	210			$	224				(6.2	)%			(12.1	)%
Noninterest income			179				132				199				35.6				(10.1	)
Total revenue (TE)			376				342				423				9.9				(11.1	)
Provision for loan losses			161				382				511				(57.9	)			(68.5	)
Noninterest expense (a)			270				299				428				(9.7	)			(36.9	)
Income (loss)  before income taxes (TE)			(55	)			(339	)			(516	)			83.8				89.3
Allocated income taxes and TE adjustments			(22	)			(128	)			(121	)			82.8				81.8
Net income (loss)			(33	)			(211	)			(395	)			84.4				91.6
Less: Net income (loss) attributable to noncontrolling interests			—				—				(1	)			—				N/M
Net income (loss) attributable to Key		$	(33	)		$	(211	)		$	(394	)			84.4	%			91.6	%
Average balances
Loans and leases		$	22,440			$	24,011			$	29,697				(6.5	)%			(24.4	)%
Loans held for sale			240				431				482				(44.3	)			(50.2	)
Total assets			26,269				28,253				37,208				(7.0	)			(29.4	)
Deposits			12,398				13,241				11,945				(6.4	)			3.8
Assets under management at period end		$	47,938			$	49,230			$	45,959				(2.6	)%			4.3	%

(a)		National Banking’s results for the first quarter of 2009 include a noncash charge for intangible assets impairment of $196 million ($164 million after tax).
TE = Taxable Equivalent, N/M = Not Meaningful

National Banking Summary of Operations

     National Banking recorded a net loss attributable to Key of $33 million for the first quarter of 2010, compared to a $394 million net loss attributable to Key for the same period one year ago. During the first quarter of 2009, results were adversely affected by an intangible assets impairment charge of $196 million ($164 million after tax). Also contributing to the improvement in the first quarter of 2010 was a substantial decrease in the provision for loan losses, partially offset by lower net interest income and noninterest income.

     Taxable-equivalent net interest income decreased by $27 million, or 12%, from the first quarter of 2009, primarily due to lower earning assets, partially offset by improved earning asset spreads. Average earning assets decreased by $8 billion, or 24%, from the year-ago quarter, reflecting reductions in the commercial and held-for-sale portfolios.

     Noninterest income declined by $20 million, or 10%, from the first quarter of 2009. Dealer trading and derivatives income decreased $26 million, primarily due to an increase in the reserve for credit losses from client derivatives of $21 million. Operating lease revenue was also $8 million lower than the first quarter of 2009.

     The provision for loan losses in the first quarter of 2010 was $161 million compared to $511 million for the same period one year ago. For the second quarter in a row, National Banking experienced an improvement in nonperforming assets.

KeyCorp Reports First Quarter 2010 Results
April 21, 2010
Page 11

     Excluding the intangible assets impairment charge in the first quarter of 2009, noninterest expense increased by $38 million, or 16%, from the first quarter of 2009, caused primarily by higher costs associated with OREO.

Other Segments

     Other Segments consist of Corporate Treasury, Key’s Principal Investing unit and various exit portfolios which were previously included within the National Banking segment. These exit portfolios were moved to Other Segments during the first quarter of 2010. Prior periods have been adjusted to conform with the current reporting of the financial information for each segment. Other Segments generated a net loss attributable to Key of $46 million for the first quarter of 2010, compared to a net loss attributable to Key of $162 million for the same period last year. These results reflect net gains from principal investing attributable to Key of $21 million during the current quarter, compared to net losses of $63 million in the year-ago quarter as well as a reduction in the loan loss provision for the exit portfolios.

Line of Business Descriptions

Community Banking

Regional Banking provides individuals with branch-based deposit and investment products, personal finance services and loans, including residential mortgages, home equity and various types of installment loans. This line of business also provides small businesses with deposit, investment and credit products, and business advisory services.

Regional Banking also offers financial, estate and retirement planning, and asset management services to assist high-net-worth clients with their banking, trust, portfolio management, insurance, charitable giving and related needs.

Commercial Banking provides midsize businesses with products and services that include commercial lending, cash management, equipment leasing, investment and employee benefit programs, succession planning, access to capital markets, derivatives and foreign exchange.

National Banking

Real Estate Capital and Corporate Banking Services consists of two business units, Real Estate Capital and Corporate Banking Services.

Real Estate Capital is a national business that provides construction and interim lending, permanent debt placements and servicing, equity and investment banking, and other commercial banking products and services to developers, brokers and owner-investors. This unit deals primarily with nonowner-occupied properties (i.e., generally properties in which at least 50% of the debt service is provided by rental income from nonaffiliated third parties). Real Estate Capital emphasizes providing clients with finance solutions through access to the capital markets.

Corporate Banking Services provides cash management, interest rate derivatives, and foreign exchange products and services to clients served by both the Community Banking and National Banking groups. Through its Public Sector and Financial Institutions businesses, Corporate Banking Services also provides a full array of commercial banking products and services to government and not-for-profit entities, and to community banks. A variety of cash management services, including the processing of tuition payments for private schools, are provided through the Global Treasury Management unit.

KeyCorp Reports First Quarter 2010 Results
April 21, 2010
Page 12

Equipment Finance meets the equipment leasing needs of companies worldwide and provides equipment manufacturers, distributors and resellers with financing options for their clients. Lease financing receivables and related revenues are assigned to other lines of business (primarily Institutional and Capital Markets, and Commercial Banking) if those businesses are principally responsible for maintaining the relationship with the client.

Institutional and Capital Markets, through its KeyBanc Capital Markets unit, provides commercial lending, treasury management, investment banking, derivatives, foreign exchange, equity and debt underwriting and trading, and syndicated finance products and services to large corporations and middle-market companies.

Through its Victory Capital Management unit, Institutional and Capital Markets also manages or offers advice regarding investment portfolios for a national client base, including corporations, labor unions, not-for-profit organizations, governments and individuals. These portfolios may be managed in separate accounts, common funds or the Victory family of mutual funds.

Cleveland-based KeyCorp (NYSE: KEY) is one of the nation’s largest bank-based financial services companies, with assets of approximately $95 billion at March 31, 2010. Key companies provide investment management, retail and commercial banking, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally. In 2009, KeyBank was awarded its seventh consecutive “Outstanding” rating for economic development achievements under the Community Reinvestment Act, the only national bank among the 50 largest in the United States to achieve this distinction from the Office of the Comptroller of the Currency. Key has also been recognized for excellence in numerous areas of the multi-channel customer banking experience, including Corporate Insight’s 2009 Bank Monitor for online service. For more information about Key, visit https://www.key.com/.

KeyCorp Reports First Quarter 2010 Results
April 21, 2010
Page 13

Notes to Editors:

A live Internet broadcast of KeyCorp’s conference call to discuss quarterly results and currently anticipated earnings trends and to answer analysts’ questions can be accessed through the Investor Relations section at https://www.key.com/ir at 9:00 a.m. ET, on Wednesday, April 21, 2010. An audio replay of the call will be available through April 28, 2010.

For up-to-date company information, media contacts and facts and figures about Key’s lines of business visit our Media Newsroom at https://www.key.com/newsroom.

###

KeyCorp Reports First Quarter 2010 Results
April 21, 2010
Page 14

Financial Highlights
(dollars in millions, except per share amounts)

		Three months ended
		3-31-10				12-31-09				3-31-09
Summary of operations
Net interest income (TE)		$	632			$	637			$	595	(a)
Noninterest income			450				469				478
Total revenue (TE)			1,082				1,106				1,073
Provision for loan losses			413				756				847
Noninterest expense			785				871				927
Loss from continuing operations attributable to Key			(57	)			(217	)			(459	)
Income (loss) from discontinued operations, net of taxes (b)			2				(7	)			(29	)
Net loss attributable to Key			(55	)			(224	)			(488	)  (a)
Loss from continuing operations attributable to Key common shareholders		$	(98	)		$	(258	)		$	(507	)
Income (loss) from discontinued operations, net of taxes (b)			2				(7	)			(29	)
Net loss attributable to Key common shareholders			(96	)			(265	)			(536	)  (a)
Per common share
Loss from continuing operations attributable to Key common shareholders		$	(.11	)		$	(.30	)		$	(1.03	)
Income (loss) from discontinued operations, net of taxes (b)			—				(.01	)			(.06	)
Net loss attributable to Key common shareholders			(.11	)			(.30	)			(1.09	)
Loss from continuing operations attributable to Key common shareholders — assuming dilution			(.11	)			(.30	)			(1.03	)
Income (loss) from discontinued operations, net of taxes — assuming dilution (b)			—				(.01	)			(.06	)
Net loss attributable to Key common shareholders — assuming dilution			(.11	)			(.30	)			(1.09	)  (a)
Cash dividends paid			.01				.01				.0625
Book value at period end			9.01				9.04				13.82
Tangible book value at period end			7.91				7.94				11.76
Market price at period end			7.75				5.55				7.87
Performance ratios — From continuing operations:
Return on average total assets			(.26	)%			(.94	)%			(1.87	)%
Return on average common equity			(4.95	)			(12.60	)			(28.26	)
Net interest margin (TE)			3.19				3.04				2.79	(a)
Performance ratios — From consolidated operations:
Return on average total assets			(.23	)%			(.93	)%			(1.91	)% (a)
Return on average common equity			(4.85	)			(12.94	)			(29.87	)  (a)
Net interest margin (TE)			3.13				3.00				2.77
Capital ratios at period end
Key shareholders’ equity to assets			11.17	%			11.43	%			10.19	%
Tangible Key shareholders’ equity to tangible assets			10.26				10.50				9.23
Tangible common equity to tangible assets			7.37				7.56				6.06
Tier 1 common equity (c)			7.53				7.50				5.62
Tier 1 risk-based capital (c)			12.96				12.75				11.22
Total risk-based capital (c)			17.11				16.95				15.18
Leverage (c)			11.56				11.72				11.19
Asset quality — from continuing operations
Net loan charge-offs		$	522			$	708			$	460
Net loan charge-offs to average loans			3.67	%			4.64	%			2.60	%
Allowance for loan losses		$	2,425			$	2,534			$	2,016
Allowance for credit losses			2,544				2,655				2,070
Allowance for loan losses to period-end loans			4.34	%			4.31	%			2.88	%
Allowance for credit losses to period-end loans			4.55				4.52				2.96
Allowance for loan losses to nonperforming loans			117.43				115.87				116.20
Allowance for credit losses to nonperforming loans			123.20				121.40				119.31
Nonperforming loans at period end		$	2,065			$	2,187			$	1,735
Nonperforming assets at period end			2,428				2,510				1,994
Nonperforming loans to period-end portfolio loans			3.69	%			3.72	%			2.48	%
Nonperforming assets to period-end portfolio loans plus
OREO and other nonperforming assets			4.31				4.25				2.84
Trust and brokerage assets
Assets under management		$	66,186			$	66,939			$	60,164
Nonmanaged and brokerage assets			19,201				27,190				21,786
Other data
Average full-time equivalent employees			15,772				15,973				17,468
Branches			1,014				1,007				989
Taxable-equivalent adjustment		$	7			$	7			$	6

(a)		The following table entitled “GAAP to Non-GAAP Reconciliations” presents certain earnings data and performance ratios, excluding charges related to intangible assets impairment, and the tax treatment of certain leveraged lease financing transactions disallowed by the IRS. The table also shows the computations of certain financial measures related to “tangible common equity” and “Tier 1 common equity.” The table reconciles the GAAP performance measures to the corresponding non-GAAP measures, which provides a basis for period-to-period comparisons.
(b)		In September 2009, management made the decision to discontinue the education lending business conducted through Key Education Resources, the education payment and financing unit of KeyBank National Association. In April 2009, management made the decision to curtail the operations of Austin Capital Management, Ltd., an investment subsidiary that specializes in managing hedge fund investments for its institutional customer base. As a result of these decisions, Key has accounted for these businesses as discontinued operations.
(c)		3-31-10 ratio is estimated.
TE = Taxable Equivalent, GAAP = U.S. generally accepted accounting principles

KeyCorp Reports First Quarter 2010 Results
April 21, 2010
Page 15

GAAP to Non-GAAP Reconciliations
(dollars in millions, except per share amounts)

The table below presents certain earnings data and performance ratios, excluding (credits) charges related to intangible assets impairment and the tax treatment of certain leveraged lease financing transactions disallowed by the IRS. Management believes that eliminating the effects of significant items that are generally nonrecurring facilitates the analysis of results by presenting them on a more comparable basis.

The table also shows the computations of certain financial measures related to “tangible common equity” and “Tier 1 common equity.” The tangible common equity ratio has become a focus of some investors and management believes that this ratio may assist investors in analyzing Key’s capital position absent the effects of intangible assets and preferred stock. Traditionally, the banking regulators have assessed bank and bank holding company capital adequacy based on both the amount and composition of capital, the calculation of which is prescribed in federal banking regulations. As a result of the Supervisory Capital Assessment Program, the Federal Reserve has focused its assessment of capital adequacy on a component of Tier 1 capital, known as Tier 1 common equity. Because the Federal Reserve has long indicated that voting common shareholders’ equity (essentially Tier 1 capital less preferred stock, qualifying capital securities and noncontrolling interests in subsidiaries) generally should be the dominant element in Tier 1 capital, such a focus is consistent with existing capital adequacy guidelines and does not imply a new or ongoing capital standard.

Because the Tier 1 common equity is neither formally defined by GAAP nor prescribed in amount by federal banking regulations, this measure is considered to be a non-GAAP financial measure. Since analysts and banking regulators may assess Key’s capital adequacy using tangible common equity and Tier 1 common equity, management believes it is useful to provide investors the ability to assess Key’s capital adequacy on these same bases. The table also reconciles the GAAP performance measures to the corresponding non-GAAP measures.

Non-GAAP financial measures have inherent limitations, are not required to be uniformly applied and are not audited. To mitigate these limitations, Key has procedures in place to ensure that these measures are calculated using the appropriate GAAP or regulatory components and to ensure that Key’s performance is properly reflected to facilitate period-to-period comparisons. Although these non-GAAP financial measures are frequently used by investors in the evaluation of a company, they have limitations as analytical tools, and should not be considered in isolation, or as a substitute for analyses of results as reported under GAAP.

		Three months ended
		3-31-10				12-31-09				3-31-09
Net income (loss)
Net income (loss) attributable to Key (GAAP)		$	(55	)		$	(224	)		$	(488	)
Charges (credits) related to intangible assets impairment, after tax			—				—				164
Charges (credits) related to leveraged lease tax litigation, after tax			—				(80	)			—
Net income (loss) attributable to Key, excluding charges (credits) related to intangible assets impairment and leveraged lease tax litigation (non-GAAP)		$	(55	)		$	(304	)		$	(324	)
Preferred dividends and amortization of discount on preferred stock		$	41			$	41			$	48
Net income (loss) attributable to Key common shareholders (GAAP)		$	(96	)		$	(265	)		$	(536	)
Net income (loss) attributable to Key common shareholders, excluding charges (credits) related to intangible assets impairment and leveraged lease tax litigation (non-GAAP)			(96	)			(345	)			(372	)
Per common share
Net income (loss) attributable to Key common shareholders — assuming dilution (GAAP)		$	(.11	)		$	(.30	)		$	(1.09	)
Net income (loss) attributable to Key common shareholders, excluding charges (credits) related to intangible assets impairment and leveraged lease tax litigation — assuming dilution (non-GAAP)			(.11	)			(.39	)			(.76	)
Performance ratios from consolidated operations
Return on average total assets: (a)
Average total assets		$	95,578			$	95,975			$	103,815
Return on average total assets (GAAP)			(.23	)%			(.93	)%			(1.91	)%
Return on average total assets, excluding charges (credits) related to intangible assets impairment and leveraged lease tax litigation (non-GAAP)			(.23	)			(1.26	)			(1.27	)
Return on average common equity: (a)
Average common equity		$	8,024			$	8,125			$	7,277
Return on average common equity (GAAP)			(4.85	)%			(12.94	)%			(29.87	)%
Return on average common equity, excluding charges (credits) related to intangible assets impairment and leveraged lease tax litigation (non-GAAP)			(4.85	)			(16.85	)			(20.73	)

KeyCorp Reports First Quarter 2010 Results
April 21, 2010
Page 16

GAAP to Non-GAAP Reconciliations (continued)
(dollars in millions, except per share amounts)

		Three months ended
		3-31-10				12-31-09				3-31-09
Tangible common equity to tangible assets at period end
Key shareholders’ equity (GAAP)		$	10,641			$	10,663			$	9,968
Less: Intangible assets			963				967				1,029	(d)
Preferred Stock, Series B			2,434				2,430				2,418
Preferred Stock, Series A			291				291				658
Tangible common equity (non-GAAP)		$	6,953			$	6,975			$	5,863
Total assets (GAAP)		$	95,303			$	93,287			$	97,834
Less: Intangible assets			963				967				1,029	(d)
Tangible assets (non-GAAP)		$	94,340			$	92,320			$	96,805
Tangible common equity to tangible assets ratio (non-GAAP)			7.37	%			7.56	%			6.06	%
Tier 1 common equity at period end
Key shareholders’ equity (GAAP)		$	10,641			$	10,663			$	9,968
Qualifying capital securities			1,791				1,791				2,582
Less: Goodwill			917				917				917
Accumulated other comprehensive income (loss) (b)			(25	)			(48	)			111
Other assets (c)			765				632				184
Total Tier 1 capital (regulatory)			10,775				10,953				11,338
Less: Qualifying capital securities			1,791				1,791				2,582
Preferred Stock, Series B			2,434				2,430				2,418
Preferred Stock, Series A			291				291				658
Total Tier 1 common equity (non-GAAP)		$	6,259			$	6,441			$	5,680
Net risk-weighted assets (regulatory) (c),(e)		$	83,171			$	85,881			$	101,077
Tier 1 common equity ratio (non-GAAP) (e)			7.53	%			7.50	%			5.62	%

(a)		Income statement amount has been annualized in calculation of percentage.
(b)		Includes net unrealized gains or losses on securities available for sale (except for net unrealized losses on marketable equity securities), net gains or losses on cash flow hedges, and amounts resulting from the December 31, 2006, adoption and subsequent application of the applicable accounting guidance for defined benefit and other postretirement plans.
(c)		Other assets deducted from Tier 1 capital and net risk-weighted assets consist of disallowed deferred tax assets of $651 million at March 31, 2010, and $514 million at December 31, 2009, disallowed intangible assets (excluding goodwill), and deductible portions of nonfinancial equity investments.
(d)		Includes $2 million of other intangible assets classified as “discontinued assets” on the balance sheet.
(e)		3-31-10 amount or ratio is estimated.

TE = Taxable Equivalent, GAAP = U.S. generally accepted accounting principles

KeyCorp Reports First Quarter 2010 Results
April 21, 2010
Page 17

Consolidated Balance Sheets
(dollars in millions)

		3-31-10				12-31-09				3-31-09
ASSETS
Loans		$	55,913			$	58,770			$	70,003
Loans held for sale			556				443				671
Securities available for sale			16,553				16,641				8,363
Held-to-maturity securities			22				24				25
Trading account assets			1,034				1,209				1,279
Short-term investments			4,345				1,743				2,917
Other investments			1,525				1,488				1,464
Total earning assets			79,948				80,318				84,722
Allowance for loan losses			(2,425	)			(2,534	)			(2,016	)
Cash and due from banks			619				471				624
Premises and equipment			872				880				847
Operating lease assets			652				716				889
Goodwill			917				917				917
Other intangible assets			46				50				110
Corporate-owned life insurance			3,087				3,071				2,994
Derivative assets			1,063				1,094				1,707
Accrued income and other assets			4,150				4,096				2,615
Discontinued assets			6,374				4,208				4,425
Total assets		$	95,303			$	93,287			$	97,834
LIABILITIES
Deposits in domestic offices:
NOW and money market deposit accounts		$	25,068			$	24,341			$	23,599
Savings deposits			1,873				1,807				1,795
Certificates of deposit ($100,000 or more)			10,188				10,954				13,250
Other time deposits			12,010				13,286				14,791
Total interest-bearing deposits			49,139				50,388				53,435
Noninterest-bearing deposits			15,364				14,415				11,641
Deposits in foreign office — interest-bearing			646				768				801
Total deposits			65,149				65,571				65,877
Federal funds purchased and securities sold under repurchase agreements			1,927				1,742				1,565
Bank notes and other short-term borrowings			446				340				2,285
Derivative liabilities			1,103				1,012				927
Accrued expense and other liabilities			2,089				2,007				1,891
Long-term debt			11,177				11,558				14,978
Discontinued liabilities			2,490				124				137
Total liabilities			84,381				82,354				87,660
EQUITY
Preferred stock, Series A			291				291				658
Preferred stock, Series B			2,434				2,430				2,418
Common shares			946				946				584
Common stock warrant			87				87				87
Capital surplus			3,724				3,734				2,464
Retained earnings			5,098				5,158				6,160
Treasury stock, at cost			(1,958	)			(1,980	)			(2,500	)
Accumulated other comprehensive income (loss)			19				(3	)			97
Key shareholders’ equity			10,641				10,663				9,968
Noncontrolling interests			281				270				206
Total equity			10,922				10,933				10,174
Total liabilities and equity		$	95,303			$	93,287			$	97,834
Common shares outstanding (000)			879,052				878,535				498,573