EXHIBIT 99.2 NOTICE OF GUARANTEED DELIVERY FOR OFFER TO EXCHANGE THEIR 11 5/8% SENIOR DISCOUNT DEBENTURES DUE 2009, WHICH HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1993, AS AMENDED, FOR ANY AND ALL OF THEIR OUTSTANDING 11 5/8% SENIOR DISCOUNT DEBENTURES DUE 2009 OF GROVE HOLDINGS LLC GROVE HOLDINGS CAPITAL, INC. This form or one substantially equivalent hereto must be used to accept the Exchange Offer of Grove Holdings LLC, a Delaware limited liability company (the "Company" or "Grove"), and Grove Holdings Capital, Inc., a Delaware corporation and a wholly owned subsidiary of the Company ("Grove Capital" and, together with the Company, the "Issuers"), made pursuant to the Prospectus dated , 1998 (the "Prospectus"), if certificates for the outstanding 11 5/8% Senior Discount Debentures due 2009 of the Issuers (the "Senior Discount Debentures") are not immediately available or if the procedure for book-entry transfer cannot be completed on a timely basis or time will not permit all required documents to reach the Issuers prior to 5:00 p.m., New York City time, on the Expiration Date of the Exchange Offer. Such form may be delivered or transmitted by telegram, telex, facsimile transmission, mail or hand delivery to United States Trust Company of New York (the "Exchange Agent") as set forth below. In addition, in order to utilize the guaranteed delivery procedure to tender Senior Discount Debentures pursuant to the Exchange Offer, a completed, signed and dated Letter of Transmittal (or facsimile thereof) must also be received by the Exchange Agent prior to 5:00 p.m., New York City time, on the Expiration Date. Capitalized terms not defined herein are defined in the Prospectus. DELIVERY TO: UNITED STATES TRUST COMPANY OF NEW YORK, EXCHANGE AGENT BY HAND UP TO 4:30 PM: United States Trust Company of New York 111 Broadway Lower Level New York, New York 10006 Attention: Corporate Trust Services Telephone: 1(800) 548-6565 Facsimile: (212) 780-0592 BY OVERNIGHT COURIER AND BY HAND AFTER 4:30 United States Trust Company of New York PM ON THE EXPIRATION DATE ONLY: 770 Broadway, 13th Floor New York, New York 10003 Attention: Corporate Trust Services Telephone: 1(800) 548-6565 Facsimile: (212) 780-0592 BY REGISTERED OR CERTIFIED MAIL: United States Trust Company of New York Post Office Box 844 New York, New York 10276-0844 Attention: Corporate Trust Services, Cooper Station Telephone: 1(800) 548-6565 Facsimile: (212) 780-0592 2 DELIVERY OF THIS INSTRUMENT TO AN ADDRESS OTHER THAN AS SET FORTH ABOVE, OR TRANSMISSION OF INSTRUCTIONS VIA FACSIMILE OTHER THAN AS SET FORTH ABOVE, WILL NOT CONSTITUTE A VALID DELIVERY. Ladies and Gentlemen: Upon the terms and conditions set forth in the Prospectus and the accompanying Letter of Transmittal, the undersigned hereby tenders to the Issuers the principal amount of Senior Discount Debentures set forth below, pursuant to the guaranteed delivery procedure described in "The Exchange Offer--Procedures for Tendering Senior Discount Debentures" section of the Prospectus. Principal Amount of Senior Discount Debentures Tendered:* If Senior Discount Debentures will be delivered by book-entry transfer to The Depository Trust Company, provide account Certificate Nos. (if available): number. Account Number Total Principal Amount Represented by Senior Discount Debentures Certificate(s): ANY AUTHORITY HEREIN CONFERRED OR AGREED TO BE CONFERRED SHALL SURVIVE THE DEATH OR INCAPACITY OF THE UNDERSIGNED AND EVERY OBLIGATION OF THE UNDERSIGNED HEREUNDER SHALL BE BINDING UPON THE HEIRS, PERSONAL REPRESENTATIVES, SUCCESSORS AND ASSIGNS OF THE UNDERSIGNED. - --------------------- */ Must be in denominations of principal amount of $1,000 and any integral multiple thereof. 3 PLEASE SIGN HERE X X Signature(s) of Owner(s) or Authorized Signatory Date Area Code and Telephone Number: Must be signed by the holder(s) of Senior Discount Debentures as their name(s) appear(s) on certificate(s) for Senior Discount Debentures or on a security position listing, or by person(s) authorized to become registered holder(s) by endorsement 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 set forth his or her full title below. PLEASE PRINT NAME(S) AND ADDRESS(ES) Name(s): Capacity: Address(es): 4 GUARANTEE The undersigned, a member of a registered national securities exchange, or a member of the National Association of Securities Dealers, Inc., or a clearing agency, insured credit union, a savings association or a commercial bank or trust company having an office or correspondent in the United States, hereby guarantees that the certificates representing the principal amount of Senior Discount Debentures tendered hereby in proper form for transfer, or timely confirmation of the book-entry transfer of such Senior Discount Debentures into the Exchange Agent's account at The Depository Trust Company pursuant to the procedures set forth in "The Exchange Offer--Procedures for Tendering Senior Discount Debentures" section of the Prospectus, together with a properly completed and duly executed Letter of Transmittal (or a manually signed facsimile thereof) with any required signature guarantee and any other documents required by the Letter of Transmittal, will be received by the Exchange Agent at the address set forth above, no later than three New York Stock Exchange trading days after the date of execution hereof. Name of Firm Authorized Signature Address Title Name: Zip Code (Please Type or Print) Area Code and Tel. No. Dated: NOTE: DO NOT SEND CERTIFICATES FOR SENIOR DISCOUNT DEBENTURES WITH THIS FORM. CERTIFICATES FOR SENIOR DISCOUNT DEBENTURES SHOULD ONLY BE SENT WITH YOUR LETTER OF TRANSMITTAL. 5