Exhibit 99.2

                         NOTICE OF GUARANTEED DELIVERY
                                      FOR
                           TENDER OF ALL OUTSTANDING
                   10 7/8% SENIOR SUBORDINATED NOTES DUE 2009
                                IN EXCHANGE FOR
                 NEW 10 7/8% SENIOR SUBORDINATED NOTES DUE 2009

                                       OF

                        RUSSELL - STANLEY HOLDINGS, INC.

         Registered holders of outstanding 10 7/8% Senior Subordinated Notes due
2009 (the "Outstanding Notes") who wish to tender their Outstanding Notes in

exchange for a like principal amount of new 10 7/8% Senior Subordinated Notes
due 2009 (the "Exchange Notes") and whose Outstanding Notes are not immediately
available or who cannot deliver their Outstanding Notes and Letter of
Transmittal (and any other documents required by the Letter of Transmittal) to
The Bank of New York (the "Exchange Agent") prior to the Expiration Date, may
use this Notice of Guaranteed Delivery or one substantially equivalent hereto.
This Notice of Guaranteed Delivery may be delivered by hand or sent by facsimile
transmission (receipt confirmed by telephone and an original delivered by
guaranteed overnight courier) or mail to the Exchange Agent. See "The Exchange
Offer--Procedures for Tendering" in the Prospectus.


                 THE EXCHANGE AGENT FOR THE EXCHANGE OFFER IS:

                              THE BANK OF NEW YORK

      BY HAND DELIVERY:                                BY MAIL:              
     The Bank of New York                (INSURED OR REGISTERED RECOMMENDED) 
      101 Barclay Street                         The Bank of New York        
   New York, New York 10286                       101 Barclay Street         
  Attn: Reorganization Unit                    New York, New York 10286      
                                              Attn: Reorganization Unit      

    BY OVERNIGHT COURIER:                        BY FACSIMILE:       
    The Bank of New York                         (212) 815-6339      
     101 Barclay Street                    Attn: Reorganization Unit 
   New York, New York 10286                                          
  Attn: Reorganization Unit                  CONFIRM BY TELEPHONE:   
                                                   (212) 815-        
                                         
         DELIVERY OF THIS NOTICE OF GUARANTEED DELIVERY TO AN ADDRESS OTHER THAN
AS SET FORTH ABOVE OR TRANSMISSION VIA A FACSIMILE TRANSMISSION TO A NUMBER
OTHER THAN AS SET FORTH ABOVE WILL NOT CONSTITUTE A VALID DELIVERY.

         This Notice of Guaranteed Delivery is not to be used to guarantee
signatures. If a signature on a Letter of Transmittal is required to be
guaranteed by an eligible institution (as defined in the Prospectus), such
signature guarantee must appear in the applicable space provided on the Letter
of Transmittal for Guarantee of Signatures.



                                                                               2

Ladies and Gentlemen:

         The undersigned hereby tenders the principal amount of Outstanding
Notes indicated below, upon the terms and subject to the conditions contained in
the Prospectus dated , 1999 of Russell-Stanley Holdings, Inc. (the
"Prospectus"), receipt of which is hereby acknowledged.

                    DESCRIPTION OF OUTSTANDING NOTES TENDERED






                                                                                            
NAME OF TENDERING          NAME AND ADDRESS OF                        CERTIFICATE NUMBER(S)          PRINCIPAL AMOUNT OF 
HOLDER                     REGISTERED HOLDER AS IT                    OF OUTSTANDING NOTES           OUTSTANDING NOTES   
                           APPEARS ON THE                             TENDERED (OR ACCOUNT           TENDERED            
                           OUTSTANDING NOTES (PLEASE PRINT)           NUMBER AT BOOK-                                    
                                                                      ENTRY FACILITY)                                    

_________________          ________________________________           _____________________          ___________________ 
_________________          ________________________________           _____________________          ___________________ 
_________________          ________________________________           _____________________          ___________________ 
_________________          ________________________________           _____________________          ___________________ 






                                                     SIGN HERE

NAME OF REGISTERED OR ACTING HOLDER: __________________________________________


SIGNATURE(S): _________________________________________________________________


NAME(S) (PLEASE PRINT): _______________________________________________________


ADDRESS: ______________________________________________________________________

_______________________________________________________________________________


TELEPHONE NUMBER: _____________________________________________________________


DATE: _________________________________________________________________________



                                                                               3

IF SHARES OF OUTSTANDING NOTES WILL BE TENDERED BY BOOK-ENTRY TRANSFER, PROVIDE
                           THE FOLLOWING INFORMATION:

         DTC ACCOUNT NUMBER: _________________________________________________

         DATE: _______________________________________________________________


                   THE FOLLOWING GUARANTEE MUST BE COMPLETED

                             GUARANTEE OF DELIVERY

                    (NOT TO BE USED FOR SIGNATURE GUARANTEE)

         The undersigned, a member of a recognized signature guarantee medallion
program within the meaning of Rule 17Ad-15 under the Securities Exchange Act of
1934, as amended, hereby guarantees to deliver to the Exchange Agent at one of
its addresses set forth on the reverse hereof, the certificates representing the
Outstanding Notes (or a confirmation of book-entry transfer of such Outstanding
Notes into the Exchange Agent's account at the book-entry transfer facility),
together with a properly completed and duly executed Letter of Transmittal (or
facsimile thereof), with any required signature guarantees, and any other
documents required by the Letter of Transmittal within three New York Stock
Exchange trading days after the Expiration Date (as defined in the Letter of
Transmittal).

Name of Firm: _______________________         ____________________________
                                              (Authorized Signature)
                                              
Address: ___________________                  Title: _____________________ 
                                                                           
____________________________                  Name: ______________________ 
                  (Zip Code)                        (Please type or print) 
                                                                           
Area Code and Telephone No.:                  Date: ______________________ 
                                              
____________________________                  
                                              

         NOTE: DO NOT SEND OUTSTANDING NOTES WITH THIS NOTICE OF GUARANTEED
DELIVERY.  OUTSTANDING NOTES SHOULD BE SENT WITH YOUR LETTER OF TRANSMITTAL.