CSR Press Release

CLEVELAND - Building on its existing understanding and knowledge of the financial priorities, laws and unique cultures of Native Americans, KeyBank has launched a national strategy aimed at helping tribal businesses, individuals and governments achieve financial success.

Key's understanding of - and respect for - tribal laws, governmental infrastructure and Native cultures has been crucial to its success in conducting business within the Native American segment. Currently, Key provides capital and financial services to more than 45 Native American tribes and corporations, with a total credit commitment of $414 million. Of the 562 federally recognized tribes in the United States, 305 reside in KeyBank's retail footprint.

With this launch, Key aims to use its understanding of Native American cultures and customs to deliver its full breadth of financial products and services to a significant but underserved market segment. A 2003 Census Bureau reported that individuals identifying themselves as Native Americans represented one percent of the U.S. population, or 2.9 million people.

To support the launch, Key has named Mike Lettig Native American Financial Services national executive and Steve Barker vice president and Western Region senior relationship manager for Key's newly formed Native American Financial Services team.

Lettig, who is based in Bellevue, Wash., is responsible for Key's strategy to deliver its full array of financial products, services and expertise to Native American clients and prospects nationwide. Also based in Bellevue, Barker is responsible for delivering Key's products and services to Native American clients throughout California, Washington, Oregon, Idaho, Arizona, New Mexico and Oklahoma. Key is currently in the process of recruiting an East Region senior relationship manager, who will be responsible for the states of Maine, New York, Connecticut, Michigan, Wisconsin and Minnesota.

For business enterprises, Key will deliver products and services such as loans and letters of credit; equipment leasing; treasury and asset management services; loan sales, and syndications and depository accounts. For individuals and communities, these include retail banking; wealth management and trust services; financing options for education; financial education; and home ownership solutions. For governments, Key will provide financial solutions for infrastructure, governmental and social services, general obligation bonds and other debt instruments.

Supporting Lettig and his team are numerous KeyCorp product and service professionals in areas such as loan underwriting and closing, credit, equipment leasing and cash management; foreign exchange, investment banking and financial planning.

"KeyBank has long been involved in helping Native American communities to achieve financial success," Lettig said. "By first recognizing the important role tribal customs, culture and laws play in business dealings, Key has been able to tailor its broad range of products and services to truly meet tribal needs, becoming a trusted financial advisor to Native American tribes, villages and corporations."

Narrative of select KeyBank Deals with Native American Tribes / Native Corporations:

• Mescalero Apache Tribe (New Mexico): The Inn of the Mountain Gods Resort and Casino ("IMGRC") has entered into a $15 million credit facility with the equipment finance unit of KeyCorp. Proceeds from the loan will be used to fund furniture, fixtures and equipment as part of IMGRC's new resort project in Mescalero, NM. The resort will include a 273-room hotel, a new 38,000 square foot casino (replacing the existing Casino Apache), a fitness center, an indoor swimming pool, and a 37,000 square foot convention and special events center, which has 17,000 square feet of divisible meeting room space. It is scheduled for opening in April 2005.

• Asa'carsarmiut Tribe (Alaska): Key Community Development Corporation invested $2 million in a limited partner tax credit equity and provided a $2 million construction loan for the construction of 10 new single-family homes in the community of Mountain Village, Alaska. Key's Business Banking group provided the construction loan. (May 2004)

• Colville Tribal Nation (Washington): The Colville Tribal Enterprise Corporation has been a major KeyBank client since 1996. Most recently, Key developed a simplified solution for the cash management, credit and investment needs of the Colville Tribal Nation of Eastern Washington. (April 2004)
  
  
• Mohegan Tribal Gaming Authority (Connecticut): The Mohegan Tribal Gaming Authority, which operates one of the nation's most profitable single entity casinos, Mohegan Sun, has been a valuable KeyBank client since 1999 when Key joined its bank syndicate. Since then, Key has participated in its subsequent bank facilities, executed numerous interest rate swaps and co-managed its debt capital markets transactions.

• Salt River Pima-Maricopa Indian Community (or Reservation) (Arizona): Victory Capital Management, the investment arm of KeyCorp, received additional contributions to the trust accounts they manage for the Salt River Pima-Maricopa Indian Community in Scottsdale, Arizona. The tribe has been a Key client since 2001.

• St. Regis Mohawk Tribe (New York): Key has partnered with this client to deliver depository, foreign exchange, cash management and vault services, and letters of credit products and services to several of its entities, including the Mohawk Bingo Palace and the Akwesasne Mohawk Casino. Key also provided a commercial loan to fund a Tribal community building and residential home for the developmentally disabled. The Tribe and the Bingo Palace have been Key clients for 20 years; the Casino since it opened in 2000.

• Tulalip Tribe (Washington): In 2003, Key opened a new retail KeyCenter (branch) in the Tulalip Tribes' Quil Ceda Village in Marysville, Washington. The new KeyCenter was constructed by The Apollo Group, a Native-American owned construction company based in Eastern Washington that is also one of Key's largest clients.

Cleveland-based KeyCorp is one of the nation's largest bank-based financial services companies, with assets of approximately $86 billion. Key companies provide investment management, retail and commercial banking, consumer finance, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally. The company's businesses deliver their products and services through KeyCenters and offices; a network of nearly 2,200 ATMs; telephone banking centers (1.800.KEY2YOU); and a Web site, Key.com,® that provides account access and financial products 24 hours a day. KeyBanc Capital Markets is a trade name used by KeyCorp's institutional banking division, providing securities products and services through its affiliate, McDonald Investments Inc., member NASD/NYSE/SIPC.

KEY MEDIA NEWSROOM: www.key.com/newsroom

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