  We present an analysis of the decays B0 -> K*0 gamma and B+ -> K*+ gamma
using a sample of 383 million BBbar events collected with the BaBar detector at
the PEP2 asymmetric energy B factory. We measure the branching fractions BF[B0
-> K*0 Gamma] = 4.47 +/- 0.10 +/- 0.16 x 10^-5 and BF[B+ -> K*+ Gamma] = 4.22
+/- 0.14 +/- 0.16 x 10^-5. We constrain the direct CP asymmetry to be -0.033 <
Acp < 0.028 and the isopin asymmetry to be 0.017 < \Delta0- < 0.116, where the
limits are determined at the 90% confidence interval and include both
statistical systematic uncertainties.
