EXHIBIT 99.02
 
                         NOTICE OF GUARANTEED DELIVERY
                                      FOR
                   10 1/8% SENIOR SUBORDINATED NOTES DUE 2007
                      FAIRCHILD SEMICONDUCTOR CORPORATION
 
    As set forth in the Prospectus dated       , 1997 (the "Prospectus") of
FAIRCHILD SEMICONDUCTOR CORPORATION (the "Company") and in the accompanying
Letter of Transmittal and instructions thereto (the "Letter of Transmittal"),
this form or one substantially equivalent hereto must be used to accept the
Company's offer to exchange (the "Exchange Offer") all of its outstanding
10 1/8% Senior Subordinated Notes Due 2007 (the "Existing Notes") for its
10 1/8% Senior Subordinated Notes Due 2007, which have been registered under the
Securities Act of 1933, as amended (the "Exchange Notes"), if certificates for
the Existing Notes are not immediately available or if the Existing Notes, the
Letter of Transmittal or any other documents required thereby cannot be
delivered to the Exchange Agent, or the procedure for book-entry transfer cannot
be completed, prior to 5:00 P.M., New York City time, on the Expiration Date (as
defined in the Prospectus). This form may be delivered by an Eligible
Institution by hand or transmitted by facsimile transmission, overnight courier
or mail to the Exchange Agent as set forth below. Capitalized terms used but not
defined herein have the meaning given to them in the Prospectus.
 
THE EXCHANGE OFFER WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON       ,
1997, UNLESS THE OFFER IS EXTENDED (THE "EXPIRATION DATE"). TENDERS OF EXISTING
NOTES MAY BE WITHDRAWN AT ANY TIME PRIOR TO 5:00 P.M. ON THE EXPIRATION DATE.
 
        TO: UNITED STATES TRUST COMPANY OF NEW YORK, THE EXCHANGE AGENT
 


   BY REGISTERED OR CERTIFIED MAIL:             BY OVERNIGHT COURIER:
 
                                     
  United States Trust Company of New      United States Trust Company of New
                 York                                    York
             P.O. Box 844                            770 Broadway
            Cooper Station                     New York, New York 10003
    New York, New York 10276-0844             Attention: Corporate Trust
 
               BY HAND:                             BY FACSIMILE:
 
  United States Trust Company of New      United States Trust Company of New
                 York                                    York
             111 Broadway                           (212) 420-6152
             Lower Level                      Attention: Corporate Trust
        Corporate Trust Window                  CONFIRM BY TELEPHONE:
       New York, New York 10006                     (800) 548-6565

 
    DELIVERY OF THIS INSTRUMENT TO AN ADDRESS, OR TRANSMISSION OF INSTRUCTIONS
VIA A FACSIMILE, OTHER THAN AS SET FORTH ABOVE, DOES NOT CONSTITUTE A VALID
DELIVERY.
 
    This form is not to be used to guarantee signatures. If a signature on the
Letter of Transmittal to be used to tender Existing Notes is required to be
guaranteed by an "Eligible Institution" under the instructions thereto, such
signature guarantee must appear in the applicable space provided in the Letter
of Transmittal.

Ladies and Gentlemen:
 
    The undersigned hereby tenders to FAIRCHILD SEMICONDUCTOR CORPORATION, a
Delaware corporation (the "Company"), upon the terms and subject to the
conditions set forth in the Prospectus and the Letter of Transmittal (which
together constitute the "Exchange Offer"), receipt of which is hereby
acknowledged, $          principal amount of Existing Notes pursuant to the
guaranteed delivery procedures set forth in Instruction 1 of the Letter of
Transmittal.
 
    The undersigned acknowledges that tenders of Existing Notes will be accepted
only in principal amounts equal to $1,000 or integral multiples thereof. The
undersigned acknowledges that tenders of Existing Notes pursuant to the Exchange
Offer may not be withdrawn after 5:00 p.m., New York City time, on the
Expiration Date.
 
    All authority herein conferred or agreed to be conferred by this Notice of
Guaranteed Delivery shall survive the death, incapacity or dissolution of the
undersigned and every obligation of the undersigned under this Notice of
Guaranteed Delivery shall be binding upon the heirs, personal representatives,
executors, administrators, successors, assigns, trustees in bankruptcy and other
legal representatives of the undersigned.
 
            NOTE: SIGNATURES MUST BE PROVIDED WHERE INDICATED BELOW.
 

                                            
Certificate No(s). for Existing Notes (if      Name(s) of Record Holder(s)
available)
 
                                               PLEASE PRINT OR TYPE
 
Principal Amount of Existing Notes             Address
 
                                               Area Code and Tel. No.
                                               Signature(s)
 
                                               Dated:
                                               If Existing Notes will be delivered by
                                               book-entry transfer at the Depository Trust
                                               Company, Depository Account No.
 

 
    This Notice of Guaranteed Delivery must be signed by the registered
holder(s) of Existing Notes exactly as its (their) name(s) appear on
certificates for Existing Notes or on a security position listing as the owner
of Existing Notes, or by person(s) authorized to become registered holder(s) by
endorsements and documents transmitted with this Notice of Guaranteed Delivery.
If signature is by a trustee, executor, administrator, guardian,
attorney-in-fact, officer or other person acting in a fiduciary or
representative capacity, such person must provide the following information:
 
                      PLEASE PRINT NAME(S) AND ADDRESS(ES)
 
Name(s): _______________________________________________________________________
 
Capacity: ______________________________________________________________________
 
Address(es): ___________________________________________________________________
 
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                                   GUARANTEE
                    (NOT TO BE USED FOR SIGNATURE GUARANTEE)
 
    The undersigned, a member firm of a registered national securities exchange
or of the National Association of Securities Dealers, Inc., or a commercial bank
or trust company having an office or correspondent in the United States or an
"eligible guarantor institution" within the meaning of Rule 17Ad-15 under the
Securities Exchange Act of 1934, as amended (the "Exchange Act"), hereby (a)
represents that the above named person(s) "own(s)" the Existing Notes tendered
hereby within the meaning of Rule 14e-4 under the Exchange Act, (b) represents
that such tender of Existing Notes complies with Rule 14e-4 under the Exchange
Act and (c) guarantees that delivery to the Exchange Agent of certificates for
the Existing Notes tendered hereby, in proper form for transfer (or confirmation
of the book-entry transfer of such Existing Notes into the Exchange Agent's
Account at the Depository Trust Company, pursuant to the procedures for
book-entry transfer set forth in the Prospectus), with delivery of a properly
completed and duly executed Letter of Transmittal (or manually signed facsimile
thereof) with any required signatures and any other required documents, will be
received by the Exchange Agent at one of its addresses set forth above within
five New York Stock Exchange ("NYSE") trading days after the execution of this
Notice of Guaranteed Delivery.
 
    THE UNDERSIGNED ACKNOWLEDGES THAT IT MUST DELIVER THE LETTER OF TRANSMITTAL
AND EXISTING NOTES TENDERED HEREBY TO THE EXCHANGE AGENT WITHIN THE TIME PERIOD
SET FORTH AND THAT FAILURE TO DO SO COULD RESULT IN FINANCIAL LOSS TO THE
UNDERSIGNED.
 


Name of Firm
                                            
                                                           Authorized Signature
 
Address                                        Name
                                                           Please Print or Type
 
                                               Title
                  Zip Code
 
Area Code and Tel. No.                         Date
 
Dated:, 1997

 
NOTE: DO NOT SEND EXISTING NOTES WITH THIS FORM; EXISTING NOTES SHOULD BE SENT
WITH YOUR LETTER OF TRANSMITTAL SO THAT THEY ARE RECEIVED BY THE EXCHANGE AGENT
WITHIN FIVE NYSE TRADING DAYS AFTER THE EXECUTION OF THIS NOTICE OF GUARANTEED
DELIVERY.
 
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