We have much to celebrate as we review the impact

of Key’s philanthropic investments made in 2008. Key’s

continued investment in programs and services that result

in economic self-sufficiency for individuals and families

has allowed us to better fulfill our mission. Our strategic

giving, complemented by a companywide tradition

of volunteerism, is one of the ways Key is making a

difference in communities across the country. We’re very

proud of our philanthropic efforts and our employees’

volunteering successes. Together, they reflect the bank’s

belief that it is charged with making a positive difference

in people’s lives and building stronger communities.

This year, we present our annual philanthropic report

in a manner that is kinder on our environment. We have

condensed our report to provide you with an overview

of Key’s strategic initiatives and invite you to learn more

about us online at key.com/community.

Margot James Copeland

Executive Vice President, KeyBank

Chair, KeyBank Foundation

Christopher M. Gorman

President, KeyBanc Capital Markets

President, KeyBank Foundation

2008 Report on Philanthropic Investment

Dear Friends,

Strategic Giving

To be most effective, the bank has laid out a

strategy for its giving. It will help the bank’s community

members achieve economic self-sufficiency, focusing

grants on three main areas:

Financial Education:• Falling personal savings rates,

increased debt and a rise in personal bankruptcies are

indications that many individuals lack basic financial

education. Supporting programs that help educate

individuals on basic personal financial practices such

as balancing a checkbook, implementing a savings

goal or reducing personal debt is important to Key.

These programs strengthen people’s abilities to live a

financially stable life.

Workforce Development:• Unemployment rates

continue to rise in a challenging economy. That’s

why Key focuses a significant part of its giving on

programs that offer career-placement guidance

and job-training skills. Key supports programs that

assist individuals who are entering the workforce

for the first time, re-entering the workforce, or

enhancing their job skills to advance in their chosen

career. These programs afford those individuals an

opportunity to lead more stable and job-secured

lives, while stabilizing the economy as well.

Diversity:• Key believes that a diverse workforce

and equal opportunities benefit society. We

support organizations that foster an environment

where people succeed regardless of age, gender,

race, religion or sexual orientation. Within Key,

we are committed to building strategic workforce

development, economic inclusion, market growth

and superior service delivery.

Matching Gift Program

Employees make a significant impact on Key’s

philanthropic investments by taking advantage of

Key’s Matching Gift Program. Key matches employee

donations to qualifying charitable organizations dollar-

for-dollar. In 2008, personal donations by employees

equated to over $963,320 in KeyBank Foundation

matching gifts.

Community Leadership Grant Program

We’re proud of the Key employees serving on

nearly 1,300 nonprofit boards across America. In

recognition of the personal service our employees

are providing in the community, the Community

Leadership Grant Program was established. Under

this program, the KeyBank Foundation will provide an

annual grant to the nonprofit organization where our

employee is serving.

2008 ContRIbutIons:

$18.1 mIllIon

While the name, “KeyBank

Foundation”, is new, the history and

impact remain unchanged. Our new

name better identifies Key’s giving arm

as a corporate foundation.

Key in the Community

Community engagement has been at the heart

of Key’s culture for decades. Our commitment to

the community takes many forms. In addition to our

philanthropic investments, our employees give back

through volunteerism and civic leadership. In 2008,

Key employees served on the boards of nearly 1,300

nonprofit boards. When employees engage in the

community, everyone benefits. Our neighborhoods

are better places, and our employees see firsthand the

positive impact of Key’s activities in the places they

call home.

People who Enjoy Helping People

In major cities and smaller towns across America,

our employees give generously of their time and

talent. Neighbors Make the Difference Day® is just

one example of how our 17,500 employees come

together and volunteer to benefit their communities.

From Maine to Alaska, you will find Key employees

dedicated to helping others through a wide-range

of projects. Neighbors Make the Difference Day

celebrated its 18th year in 2008 with the highest

percentage of employee participation. 46% of Key’s

workforce participated in this single-day activity.

“Credit Yourself: The Way to Financial Fitness”

KeyBank Foundation’s signature financial education

program is currently administered in 11 cities across

the United States. This unique program partners with

local, not-for-profit organizations to deliver classes that

cover basic financial education in budgeting and credit.

Participants are taught how to read their own credit

reports and how to address any issues that may show

up. They receive instruction on how to set up and follow

a budget, as well as how to establish a financial goal

that fits into their budget. KeyBank Foundation is proud

to partner with organizations in the following cities on

the “Credit Yourself” program: Akron, OH; Albany, NY;

Denver, CO; Portland, OR; Cincinnati, OH; Seattle, WA;

Syracuse, NY, Columbus; OH, Dayton; OH, Buffalo, NY;

and Newburgh, NY.

“Key and its employees know

that getting involved and lending

a helping hand makes a big

difference. Employees from senior

management to branch staff

work side-by-side on a variety of

volunteer projects to serve their

communities.”

Margot James Copeland

Executive Vice President,

Corporate Diversity and Philanthropy,

Chair of the KeyBank Foundation

CS92289

EaST REGion

Capital Region nY66 South Pearl Street10th FloorAlbany, NY 12207518-257-8621

Central new York201 South Warren Street3rd FloorSyracuse, NY 13202315-470-5510

Florida8000 Health Center BoulevardSuite 100Bonita Springs, FL 34135239-949-7505

Hudson Valley2515 South Road3rd FloorOakwood CommonsPoughkeepsie, NY 12601845-483-3031

MaineOne Canal PlazaPortland, ME 04101207-874-7296

Rochester1700 Bausch & Lomb PlaceRochester, NY 14604585-238-4190

Vermont149 Bank StreetBurlington, VT 05401802-660-4223

Western new York50 Fountain Plaza17th FloorBuffalo, NY 14202716-847-2317

MidWEST REGion

Central indianaTen West Market Street900 Market TowerIndianapolis, IN 46204317-464-8034

Central ohio88 East Broad StreetColumbus, OH 43215614-460-3436

Cincinnati303 Broadway StreetSuite 1700Cincinnati, OH 45202513-830-1129

Cleveland800 Superior AvenueCleveland, OH 44114216-828-8539

dayton34 North Main StreetMezzanine LevelDayton, OH 45402937-586-7302

Eastern ohio157 South Main StreetAkron, OH 44308330-379-1623

Michigan100 South Main StreetAnn Arbor, MI 48104734-741-6576

northern indiana202 South Michigan StreetSouth Bend, IN 46601574-282-8836

northwest ohioThree Seagate TowerToledo, OH 43604419-259-8754

noRTHWEST REGion

alaska101 West Benson BoulevardSuite 414Anchorage, AK 99503907-564-0251

oregon1211 S.W. Fifth AvenueSuite 300Portland, OR 97204503-790-7551

Seattle-Cascades601 108th Ave., NEFifth FloorBellevue, WA 98004425-709-4277

South Puget Sound1101 Pacific Avenue4th FloorTacoma, WA 98402425-709-4277

RoCKY MounTainREGion

Colorado1675 BroadwaySuite 500Denver, CO 80202720-904-4546

idaho702 West Idaho12th FloorP.O. Box 2557Boise, ID 83701208-364-8765

utah50 South Main StreetSuite 2003Salt Lake City, UT 84144801-535-1037

ConTaCT inFoRMaTion

The charitable giving program is administered by local contributions committees comprised of officers within the corporation. The national programs are administered by the Foundation headquartered in Cleveland. The Foundation coordinates the charitable funding activities of our district locations. To discuss regional or district funding, contact the closest Key location.

800 Superior AvenueCleveland, OH 44114216-828-7397KeyBank_Foundation@key.comkey.com/community

Form No. 69-2315