  We report measurements of the radiative decay B --> K^*\gamma. The analysis
is based on a data sample containing 85.0*10^6 B meson pairs collected by the
Belle detector at the KEKB storage ring. We measure branching fractions of
Br(B^0 --> K^{*0}\gamma) = (4.01 \pm 0.21 \pm 0.17)*10^{-5} and Br(B^+ -->
K^{*+}\gamma) = (4.25 \pm 0.31 \pm 0.24)*10^{-5}, where the first and second
errors are statistical and systematic, respectively. The isospin asymmetry
between B^0 and B^+ decay widths is measured to be \Delta_{0+} = +0.012 \pm
0.044 \pm 0.026. We search for a partial rate asymmetry between CP conjugate
modes, and find A_{cp}(B --> K^*\gamma) = =0.015 \pm 0.044 \pm 0.012.
