  The branching fractions of the exclusive decays $B^0\to K^{*0}\gamma$ and
$B^+ \to K^{*+}\gamma$ are measured from a sample of $(22.74\pm 0.36)\times
10^6$ $B\bar B$ decays collected with the BABAR detector at the PEP II
asymmetric $e^{+}e^{-}$ collider. We find ${\cal B}(B^0\to K^{*0}\gamma) =
(4.23\pm 0.40({\rm stat.})\pm 0.22({\rm sys.}))\times 10^{-5}$, ${\cal
B}(B^+\to K^{*+}\gamma) = (3.83\pm 0.62({\rm stat.})\pm 0.22({\rm sys.}))\times
10^{-5}$ and constrain the CP-violating charge asymmetry to be $-0.170 <
A_{CP}(B \to K^*\gamma) < 0.082$ at 90% C.L.
