EXHIBIT 99.1

FOR IMMEDIATE RELEASE CONTACT: EDWARD F. CRAWFORD
PARK-OHIO HOLDINGS CORP.
(440) 947-2000

ParkOhio Announces First Quarter Results

     CLEVELAND, OHIO, May 8, 2009 — Park-Ohio Holdings Corp. (NASDAQ:PKOH) today announced results for its first quarter ended March 31, 2009.

     ParkOhio reported net sales of $181.3 million for first quarter 2009, a decrease of $85.8 million from net sales of $267.1 million for first quarter 2008. ParkOhio reported a net loss of $5.5 million, or $.50 per share dilutive, for first quarter 2009, compared to net income of $3.5 million, or $.30 per share dilutive, for first quarter 2008.

     Edward F. Crawford, Chairman and Chief Executive Officer, stated, “A 32% year over year reduction in sales has resulted in a loss in the first quarter of 2009. We continue to adjust our operating expenses and expect better performance in the second quarter.”

     A conference call reviewing ParkOhio’s first quarter results will be broadcast live over the Internet on Monday, May 11, commencing at 10:00 am Eastern Time. Simply log on to http://www.pkoh.com.

     ParkOhio is a leading provider of supply management services and a manufacturer of highly engineered products. Headquartered in Cleveland, Ohio, the Company operates 28 manufacturing sites and 40 supply chain logistics facilities.

     This news release contains forward-looking statements, including statements regarding future performance of the Company that are subject to certain risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected.

     Among the key factors that could cause actual results to differ materially from expectations are: the cyclical nature of the vehicular industry; timing of cost reductions; labor availability and stability; changes in economic and industry conditions, including as a result of the current global financial crisis; adverse impacts to the Company, its suppliers and customers from acts of terrorism or hostilities; the financial condition of the Company’s customers and suppliers, including the impact of any bankruptcies; the Company’s ability to successfully integrate the operations of acquired companies; the uncertainties of environmental, litigation or corporate contingencies; and changes in regulatory requirements. These and other risks and assumptions are described in the Company’s reports that are available from the United States Securities and Exchange Commission. The Company assumes no obligation to update the information in this release.

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CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED)
PARK-OHIO HOLDINGS CORP. AND SUBSIDIARIES
(In Thousands, Except per Share Data)

	Three Months Ended
	March 31,
	2009			2008
Net sales	$	181,250		$	267,090
Cost of products sold		157,388			228,397
Gross profit		23,862			38,693
Selling, general and administrative expenses		22,621			25,945
Operating income		1,241			12,748
Interest expense		5,971			7,264
(Loss) income before income taxes		(4,730	)		5,484
Income taxes		732			2,002
Net (loss) income		($5,462	)	$	3,482
Amounts per common share:
Basic		($0.50	)	$	0.31
Diluted		($0.50	)	$	0.30
Common shares used in the computation
Basic		10,950			11,153
Diluted		10,950			11,689
Other financial data:
EBITDA, as defined	$	7,726		$	18,721

Note A—EBITDA, as defined, reflects earnings before interest and income taxes, and excludes depreciation, amortization, certain non-cash charges and corporate-level expenses as defined in the Company’s revolving credit agreement. EBITDA is not a measure of performance under generally accepted accounting principles (“GAAP”) and should not be considered in isolation or as a substitute for net income, cash flows from operating, investing and financing activities and other income or cash flow statement data prepared in accordance with GAAP or as a measure of profitability or liquidity. The Company presents EBITDA because management believes that EBITDA is useful to investors as an indication of the Company’s satisfaction of its Debt Service Ratio covenant in its revolving credit agreement and because EBITDA is a measure used under the Company’s revolving credit facility to determine whether the Company may incur additional debt under such facility. EBITDA as defined herein may not be comparable to other similarly titled measures of other companies. The following table reconciles net (loss) income to EBITDA, as defined:

	Three Months Ended
	March 31,
	2009			2008
Net (loss) income		($5,462	)	$	3,482
Add back:
Income taxes		732			2,002
Interest expense		5,971			7,264
Depreciation and amortization		5,194			5,233
Miscellaneous		1,291			740
EBITDA, as defined	$	7,726		$	18,721

CONSOLIDATED CONDENSED BALANCE SHEETS
PARK-OHIO HOLDINGS CORP. AND SUBSIDIARIES

	March 31,		December 31,
	2009		2008
	(Unaudited)		(Audited)
	(In Thousands)
ASSETS
Current Assets
Cash and cash equivalents	$	14,165	$	17,825
Accounts receivable, net		132,736		165,779
Inventories		223,903		228,817
Deferred tax assets		9,446		9,446
Unbilled contract revenue		24,293		25,602
Other current assets		10,803		12,818
Total Current Assets		415,346		460,287
Property, Plant and Equipment		248,490		248,474
Less accumulated depreciation		161,059		157,832
Total Property Plant and Equipment		87,431		90,642
Other Assets
Goodwill		3,935		4,109
Other		65,204		64,182
Total Other Assets		69,139		68,291
Total Assets	$	571,916	$	619,220
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities
Trade accounts payable	$	90,360	$	121,995
Accrued expenses		62,656	$	74,351
Current portion of long-term debt		2,808	$	8,778
Current portion of other postretirement benefits		2,290		2,290
Total Current Liabilities		158,114		207,414
Long-Term Liabilities, less current portion
8.375% Senior Subordinated Notes due 2014		198,985		198,985
Revolving credit maturing on December 31, 2010		173,900		164,600
Other long-term debt		2,128		2,283
Deferred tax liability		9,090		9,090
Other postretirement benefits and other long-term liabilities		24,330		24,093
Total Long-Term Liabilities		408,433		399,051
Shareholders’ Equity		5,369		12,755
Total Liabilities and Shareholders’ Equity	$	571,916	$	619,220

BUSINESS SEGMENT INFORMATION (UNAUDITED)
PARK-OHIO HOLDINGS CORP. AND SUBSIDIARIES
(In Thousands)

	Three Months Ended March 31,
	2009			2008
NET SALES
Supply Technologies	$	82,971		$	129,233
Aluminum Products		22,358			40,536
Manufactured Products		75,921			97,321
	$	181,250		$	267,090
(LOSS) INCOME BEFORE INCOME TAXES
Supply Technologies	$	546		$	4,707
Aluminum Products		(3,662	)		(1,055	)
Manufactured Products		7,712			13,222
		4,596			16,874
Corporate and Other Costs		(3,355	)		(4,126	)
Interest Expense		(5,971	)		(7,264	)
		($4,730	)	$	5,484