
                                                           Exhibit 99(a)(1)(iii)

                          NOTICE OF GUARANTEED DELIVERY

        THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION.

            IF YOU ARE IN ANY DOUBT AS TO THE ACTION TO BE TAKEN, YOU SHOULD
SEEK YOUR OWN FINANCIAL ADVICE IMMEDIATELY FROM YOUR OWN APPROPRIATELY
AUTHORIZED INDEPENDENT FINANCIAL ADVISOR. IF YOU HAVE SOLD OR TRANSFERRED ALL OF
YOUR REGISTERED HOLDINGS OF SHARES (AS DEFINED BELOW), PLEASE FORWARD THIS
DOCUMENT AND ALL ACCOMPANYING DOCUMENTS TO THE STOCKBROKER, BANK OR OTHER AGENT
THROUGH WHOM THE SALE OR TRANSFER WAS EFFECTED FOR TRANSMISSION TO GBC
ACQUISITION CORP. OR TRANSFEREE.

                          NOTICE OF GUARANTEED DELIVERY

                        TO TENDER SHARES OF COMMON STOCK

                            PAR VALUE $0.01 PER SHARE

                                       OF

                           GENERAL BEARING CORPORATION

                                       BY

                              GBC ACQUISITION CORP.

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            THE OFFER AND WITHDRAWAL RIGHTS WILL EXPIRE AT 12:00 MIDNIGHT,
EASTERN STANDARD TIME, ON FRIDAY, AUGUST 13, 2004, UNLESS THE OFFER IS EXTENDED.

             ------------------------------------------------------

            As set forth under Section 3 of the Offer to Purchase (as defined
below), this form (or a facsimile hereof) must be used to accept the Offer (as
defined in the Offer to Purchase) if (i) certificates representing shares of
common stock, par value $0.01 per share (the "Shares"), of General Bearing
Corporation, a Delaware corporation ("General Bearing"), are not immediately
available, (ii) the procedure for book-entry transfer cannot be completed on a
timely basis, or (iii) time will not permit certificates representing Shares and

<PAGE>

any other required documents to reach the Depositary (as defined in the Offer to
Purchase) prior to the Expiration Date (as defined in the Offer to Purchase).
This Notice of Guaranteed Delivery may be delivered by hand to the Depositary,
or transmitted by telegram, facsimile transmission or mail to the Depositary and
must include a signature guarantee by an Eligible Institution (as defined in the
Offer to Purchase) in the form set forth herein. See the guaranteed delivery
procedures described under Section 3 of the Offer to Purchase.

                        THE DEPOSITARY FOR THE OFFER IS:

                    AMERICAN STOCK TRANSFER AND TRUST COMPANY

By mail, overnight courier or by hand:

                                 59 Maiden Lane
                               Plaza Level - Lobby
                               New York, NY 10038

 FOR NOTICE OF GUARANTEED DELIVERY BY                 TO CONFIRM FACSIMILE
FACSIMILE TRANSMISSION: (718) 234-5001         TRANSMISSION ONLY: (718) 921-8200

            DELIVERY OF THIS NOTICE OF GUARANTEED DELIVERY TO AN ADDRESS OTHER
THAN AS SET FORTH ABOVE OR TRANSMISSION OF INSTRUCTIONS VIA A FACSIMILE
TRANSMISSION TO A NUMBER OTHER THAN AS SET FORTH ABOVE WILL NOT CONSTITUTE A
VALID DELIVERY.

            THIS FORM 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" UNDER THE INSTRUCTIONS THERETO, SUCH SIGNATURE GUARANTEE MUST
APPEAR IN THE APPLICABLE SPACE PROVIDED IN THE SIGNATURE BOX ON THE LETTER OF
TRANSMITTAL.

Ladies and Gentlemen:

            The undersigned hereby tenders to GBC ACQUISITION CORP., a Delaware
corporation (the "Purchaser") currently controlled by Seymour Gussack, Chairman
of the Board of General Bearing, and David L. Gussack, Chief Executive Officer
and a director of General Bearing, upon the terms and subject to the conditions
set forth in the Offer to Purchase, dated July 16, 2004 (the "Offer to
Purchase") and the related Letter of Transmittal, receipt of which is hereby
acknowledged, the number of Shares set forth below pursuant to the guaranteed
delivery procedures set forth in Section 3 of the Offer to Purchase.

             ------------------------------------------------------

Signature(s): __________________________________________________________________

Name(s) of Record Holder(s): ___________________________________________________


                                      -2-
<PAGE>

________________________________________________________________________________

Number of Shares: ______________________________________________________________

Certificate Number(s) (If Available): __________________________________________

Dated:________________________, 2004

Address(es): ___________________________________________________________________

                               (INCLUDE ZIP CODE)

Area Code and Telephone Number(s):  ____________________________________________

________________________________________________________________________________

Taxpayer Identification or Social Security Number:  ____________________________

Check box if Shares will be tendered by book-entry transfer: |_|

             ------------------------------------------------------

              THE GUARANTEE ON THE FOLLOWING PAGE MUST BE COMPLETED

                                    GUARANTEE

                    (NOT TO BE USED FOR SIGNATURE GUARANTEES)

            The undersigned, a participant in the Security Transfer Agents
Medallion Program, the New York Stock Exchange Medallion Signature Guarantee
Program, the Stock Exchange Medallion Program or an "Eligible Guarantor
Institution" as such term is defined in Rule 17Ad-15 under the Securities
Exchange Act of 1934, as amended, hereby (a) represents that the above named
person(s) "own(s)" the Shares tendered hereby within the meaning of Rule 14e-4
under the Securities Exchange Act of 1934, as amended ("Rule 14e-4"), (b)
represents that such tender of Shares complies with Rule 14e-4 and (c)
guarantees to deliver to the Depositary either certificates representing the
Shares tendered hereby, in proper form for transfer, or confirmation of
Book-Entry Transfer of such Shares into the Depositary's accounts at The
Depository Trust Company, in each case with delivery of a properly completed and
duly executed Letter of Transmittal (or a manually signed facsimile thereof),
with any required signature guarantees, or an Agent's Message (as defined in the
Offer to Purchase), and any other required documents, within three Nasdaq
SmallCap Market trading days after the date hereof.

Name of Firm: __________________________________________________________________

Address: _______________________________________________________________________
                               (INCLUDE ZIP CODE)


                                      -3-
<PAGE>

Area Code and Telephone No.: ___________________________________________________

Authorized Signature: __________________________________________________________

Name: __________________________________________________________________________
                             (PLEASE PRINT OR TYPE)

Title: _________________________________________________________________________

Date: __________________________________________________________________________

NOTE:       DO NOT SEND CERTIFICATES FOR THE SHARES WITH THIS NOTICE.
            CERTIFICATES SHOULD BE SENT ONLY WITH YOUR LETTER OF TRANSMITTAL.

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