EXHIBIT 18

To the Audit Committee of the Board of Directors
Park-Ohio Holdings Corp.
23000 Euclid Avenue
Cleveland, Ohio 44117

     Note B of the notes to the consolidated financial statements of Park-Ohio
Holdings Corp. included in its quarterly report on Form 10-Q for the six months
ended June 30, 2003 describes a change in the method of accounting for inventory
at certain subsidiaries of the Company from the last-in, first-out (LIFO) method
to the first-in, first-out (FIFO) method. There are no authoritative criteria
for determining a preferable inventory method based on the particular
circumstances; however, we conclude that such change in the method of accounting
for inventory at certain subsidiaries is to an acceptable alternative method
which, based on your business judgment to make this change and for the stated
reasons, is preferable in your circumstances. We have not conducted an audit in
accordance with generally accepted auditing standards of any financial
statements of the Company as of any date or for any period subsequent to
December 31, 2002 and, therefore, we do not express any opinion on any financial
statement of Park-Ohio Holdings Corp. subsequent to that date.
                                          Very truly yours,

                                          /s/ Ernst & Young LLP

Cleveland, Ohio
August 12, 2003

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