EXHIBIT (15) LETTER RE: UNAUDITED FINANCIAL INFORMATION

Board of Directors and Shareholders
Park-Ohio Holdings Corp.

     We are aware of the incorporation by reference in the following
Registration Statements of Park-Ohio Holdings Corp., for the registration of its
common stock of our report dated August 12, 2003 relating to the unaudited
consolidated interim financial statements of Park-Ohio Holdings Corp., which are
included in its Form 10-Q for the quarter ended June 30, 2003.

<Table>
<Caption>
                                                              SHARES
REGISTRATION STATEMENT             DESCRIPTION              REGISTERED
- ----------------------  ----------------------------------  ----------
                                                      
Form S-8 (33-01047)     Individual Account Retirement Plan  1,500,000
Form S-8 (333-58161)    1998 Long-Term Incentive Plan         550,000
</Table>

                                          /s/ Ernst & Young LLP

Cleveland, Ohio
August 12, 2003

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