EXHIBIT 99.2 TRUMP ATLANTIC CITY ASSOCIATES TRUMP ATLANTIC CITY FUNDING II, INC. EXCHANGE OFFER TO HOLDERS OF ITS 11 1/4% FIRST MORTGAGE NOTES (TAC II) DUE 2006, SERIES A NOTICE OF GUARANTEED DELIVERY As set forth in the Prospectus dated , 1998 (the "Prospectus") of Trump Atlantic City Associates ("Trump AC"), Trump Atlantic City Funding II, Inc. ("Funding II" and, together with Trump AC, the "Issuers") and all of the subsidiaries of the Issuers under "The Exchange Offer--How to Tender" and in the Letter of Transmittal (the "Letter of Transmittal") relating to the offer (the "Exchange Offer") by the Issuers to exchange up to $75,000,000 in principal amount of its 11 1/4% First Mortgage Notes (TAC II) due 2006, Series A issued and sold in a transaction exempt from registration under the Securities Act of 1933, as amended (the "Original Notes"), for $75,000,000 in principal amount of its 11 1/4% First Mortgage Notes (TAC II) due 2006, Series B (the "Exchange Notes"), this form or one substantially equivalent hereto must be used to accept the Exchange Offer of the Issuers if: (i) certificates for the Original Notes are not immediately available; or (ii) time will not permit all required documents to reach the Exchange Agent (as defined below) on or prior to the Expiration Date (as defined in the Prospectus) of the Exchange Offer. Such form may be delivered by hand or transmitted by telegram, telex, facsimile transmission or letter to the Exchange Agent. TO: U.S. BANK NATIONAL ASSOCIATION (the "Exchange Agent") BY FACSIMILE: (612) 244-1537 Attention: Bernice Chapman CONFIRM BY TELEPHONE: (612) 244-1572 BY REGISTERED OR CERTIFIED MAIL: U.S. Bank National Association 180 East 5th Street St. Paul, Minnesota 55101 Bernice Chapman BY HAND/OVERNIGHT COURIER: U.S. Bank National Association 180 East 5th Street St. Paul, Minnesota 55101 Bernice Chapman OR First Trust New York 100 Wall Street Bond Window, 20th Floor New York, New York 10005 DELIVERY OF THIS INSTRUMENT TO AN ADDRESS OTHER THAN AS SET FORTH ABOVE OR TRANSMITTAL OF THIS INSTRUMENT TO A FACSIMILE OR TELEX NUMBER OTHER THAN AS SET FORTH ABOVE DOES NOT CONSTITUTE A VALID DELIVERY. Ladies and Gentlemen: The undersigned hereby tenders to the Issuers, upon the terms and conditions set forth in the Prospectus and the Letter of Transmittal (which together constitute the "Exchange Offer"), receipt of which are hereby acknowledged, the principal amount of Original Notes set forth below pursuant to the guaranteed delivery procedure described in the Prospectus and the Letter of Transmittal. SIGN HERE Principal Amount of Original Notes Signature(s) Tendered Certificate Nos. Please Print the Following (if available) Information Name(s) Address Total Principal Amount Area Code and Tel. No(s). Represented by Original Notes Certificate(s) Account Number Dated: , 1998 2 GUARANTEE The undersigned, a member of a recognized signature guarantee medallion program within the meaning of Rule 17A(d)-15 under the Securities Exchange Act of 1934, as amended, hereby guarantees that delivery to the Exchange Agent of certificates tendered hereby, in proper form for transfer, or delivery of such certificates pursuant to the procedure for book-entry transfer, in either case with delivery of a properly completed and duly executed Letter of Transmittal (or facsimile thereof) and any other required documents, is being made within five trading days after the date of execution of a Notice of Guaranteed Delivery of the above-named person. Name of Firm Authorized Signature Number and Street or P.O. Box City State Zip Code Area Code and Tel. No. Dated: ____________, 1998 3