Exhibit 99.2
 
                         NOTICE OF GUARANTEED DELIVERY
                                WITH RESPECT TO
                     11 1/2% SERIES A SENIOR NOTES DUE 2003
 
 
 THIS FORM, OR ONE SUBSTANTIALLY EQUIVALENT HERETO, MUST BE USED BY ANY
 HOLDER OF 11 1/2% SERIES A SENIOR NOTES DUE 2003 (THE "PRIVATE NOTES") OF
 COBBLESTONE GOLF GROUP, INC., A DELAWARE CORPORATION (THE "COMPANY"), WHO
 WISHES TO TENDER PRIVATE NOTES PURSUANT TO THE COMPANY'S EXCHANGE OFFER,
 AS DEFINED IN THE PROSPECTUS DATED             , 1996 (THE "PROSPECTUS")
 AND (i) WHOSE PRIVATE NOTES ARE NOT IMMEDIATELY AVAILABLE OR (ii) WHO
 CANNOT DELIVER SUCH PRIVATE NOTES OR ANY OTHER DOCUMENTS REQUIRED BY THE
 LETTER OF TRANSMITTAL ON OR BEFORE THE EXPIRATION DATE (AS DEFINED IN THE
 PROSPECTUS) OR (iii) WHO CANNOT COMPLY WITH THE BOOK-ENTRY TRANSFER
 PROCEDURE ON A TIMELY BASIS. SUCH FORM MAY BE DELIVERED BY FACSIMILE
 TRANSMISSION, MAIL OR HAND DELIVERY TO THE EXCHANGE AGENT. SEE "THE
 EXCHANGE OFFER--GUARANTEED DELIVERY PROCEDURES" IN THE PROSPECTUS.
 
 
                          COBBLESTONE GOLF GROUP, INC.
 
                         NOTICE OF GUARANTEED DELIVERY

      To: Norwest Bank Minnesota, National Association, the Exchange Agent
 
                                                       
 
    By Registered or Certified Mail:                In Person:
 
                                                  
        Norwest Bank Minnesota,                   Northstar East Bldg.  
          National Association                       608 2nd Ave S.     
       Corporate Trust Operations                      12th Floor       
             P.O. Box 1517                        Corporate Trust Ser.  
       Minneapolis, MN 55480-1517                   Minneapolis, MN      
 
                                        
     By Hand or Overnight Courier:      By Facsimile (for Eligible Institutions 
                                                         only):            
 
        Norwest Bank Minnesota,                      (612) 667-4927
          National Association
       Corporate Trust Operations             Confirm Receipt of Notice of
             Norwest Center                Guaranteed Delivery by Telephone:
          Sixth and Marquette
       Minneapolis, MN 55479-0113                    (612) 667-9764
 
  DELIVERY OF THIS NOTICE OF GUARANTEED DELIVERY TO AN ADDRESS OTHER THAN AS
SET FORTH ABOVE OR TRANSMISSION VIA A FACSIMILE NUMBER OTHER THAN AS SET FORTH
ABOVE WILL NOT CONSTITUTE A VALID DELIVERY.

 
              PLEASE READ THE ACCOMPANYING INSTRUCTIONS CAREFULLY
 
Ladies and Gentlemen:
 
  The undersigned hereby tenders to the Company upon the terms and subject to
the conditions set forth in the Prospectus and the related Letter of
Transmittal, receipt of which is hereby acknowledged, the principal amount of
Private Notes specified below pursuant to the guaranteed delivery procedures
set forth under the caption "The Exchange Offer--Guaranteed Delivery
Procedures" in the Prospectus. By so tendering, the undersigned does hereby
make, at and as of the date hereof, the representations and warranties of a
tendering Holder of Private Notes set forth in the Letter or Transmittal. The
undersigned hereby tenders the Private Notes listed below:
 


                                                  
             CERTIFICATE NUMBERS                     PRINCIPAL AMOUNT TENDERED
               (IF AVAILABLE)

 
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
 
 
  All authority herein conferred or agreed to be conferred shall survive the
death, incapacity, or dissolution of the undersigned and every obligation of
the undersigned hereunder shall be binding upon the heirs, personal
representatives, successors and assigns of the undersigned.
 
If Private Notes will be tendered         SIGN HERE
by book-entry transfer:
 
                                          -------------------------------------
                                                      Signature(s)
 
Name of Tendering Institution:
                                          -------------------------------------
 
- -------------------------------------
 
The Depository Trust Company              -------------------------------------
                                                  Name(s) (Please Print)
Account No.: 
            -------------------------     -------------------------------------
 
                                          -------------------------------------
                                                         Address
 
                                          -------------------------------------
                                                        Zip Code
 
                                          -------------------------------------
                                               Area Code and Telephone No.
                                          
                                          Date: 
                                               --------------------------------

 
                                   GUARANTEE
                   (NOT TO BE USED FOR SIGNATURE GUARANTEE)
 
  The undersigned, a participant in a Recognized Signature Guarantee Medallion
Program, guarantees deposit with the Exchange Agent of the Letter of
Transmittal (or facsimile thereof), together with the Private Notes tendered
hereby in proper form for transfer, or confirmation of the book-entry transfer
of such Private Notes into the Exchange Agent's account at the Depository
Trust Company, pursuant to the procedure for book-entry transfer set forth in
the Prospectus, and any other required documents, all by 5:00 p.m., New York
City time, on the fifth New York Stock Exchange trading day following the
Expiration Date (as defined in the Prospectus).
 
                                          SIGN HERE
 
                                          -------------------------------------
                                          Name of Firm
 
                                          -------------------------------------
                                          Authorized Signature
 
                                          -------------------------------------
                                          Name (Please print)
 
                                          -------------------------------------
 
                                          -------------------------------------
                                          Address
 
                                          -------------------------------------
                                          Zip Code
 
                                          -------------------------------------
                                          Area Code and Telephone No.

                                          Date:
                                               --------------------------------
 
DO NOT SEND CERTIFICATES FOR PRIVATE NOTES WITH THIS FORM. ACTUAL SURRENDER OF
CERTIFICATES FOR PRIVATE NOTES MUST BE MADE PURSUANT TO, AND BE ACCOMPANIED
BY, A COPY OF THE PREVIOUSLY EXECUTED LETTER OF TRANSMITTAL.

 
                                 INSTRUCTIONS
 
  1. DELIVERY OF THIS NOTICE OF GUARANTEED DELIVERY. A properly completed and
duly executed copy of this Notice of Guaranteed Delivery and any other
documents required by this Notice of Guaranteed Delivery must be received by
the Exchange Agent at one of its addresses set forth on the cover hereof prior
to the Expiration Date. The method of delivery of this Notice of Guaranteed
Delivery and all other required documents to the Exchange Agent is at the
election and risk of the Holder but, except as otherwise provided below, the
delivery will be deemed made only when actually received by the Exchange
Agent. Instead of delivery by mail, it is recommended that holders use an
overnight or hand delivery service, properly insured. If such delivery is by
mail, it is recommended that the Holder use properly insured, registered mail
with return receipt requested. For a full description of the guaranteed
delivery procedures, see the Prospectus under the caption "The Exchange
Offer--Guaranteed Delivery Procedures." In all cases, sufficient time should
be allowed to assure timely delivery. No Notice of Guaranteed Delivery should
be sent to the Company.
 
  2. SIGNATURE ON THIS NOTICE OF GUARANTEED DELIVERY; GUARANTEE OF SIGNATURES.
If this Notice of Guaranteed Delivery is signed by the registered Holder(s) of
the Private Notes referred to herein, then the signature must correspond with
the name(s) as written on the face of the Private Notes without alteration,
enlargement or any change whatsoever.
 
  If this Notice of Guaranteed Delivery is signed by a person other than the
registered Holder(s) of any Private Notes listed, this Notice of Guaranteed
Delivery must be accompanied by a properly completed bond power signed as the
name of the registered Holder(s) appear(s) on the face of the Private Notes
without alteration, enlargement or any change whatsoever.
 
  If this Notice of Guaranteed Delivery is signed by a trustee, executor,
administrator, guardian, attorney-in-fact, officer of a corporation or other
person acting in a fiduciary or representative capacity, such person should so
indicate when signing, and, unless waived by the Company, evidence
satisfactory to the Company of their authority so to act must be submitted
with this Notice of Guaranteed Delivery.
 
  3. REQUESTS FOR ASSISTANCE OR ADDITIONAL COPIES. Questions relating to the
Exchange Offer or the procedure for consenting and tendering as well as
requests for assistance or for additional copies of the Prospectus, the Letter
of Transmittal and this Notice of Guaranteed Delivery, may be directed to the
Exchange Agent at the address set forth on the cover hereof or to your broker,
dealer, commercial bank or trust company.