In present study, EPS- producing bacteria were isolated from the rhizosphere of guar, grown under rainfed condition and were screened in vitro for moisture stress tolerance in nutrient broth supplemented with different concentrations of polyethylene glycol (PEG 6000). Total 7 isolates from Guar rhizosphere, were found to tolerate maximum stress (45% PEG 6000) in broth culture. These isolates were monitored for the amount of EPS produced under maximum level of polyethylene glycol. D1 and D5 were found to be high EPS producing isolates (198 mg/100ml and 263 mg/100 ml respectivly). These isolates were identified as Bacillus cereus and Microbacterium resistens on the basis of 16S rDNA sequence analysis. The chemical characterization of EPS was studied and the structure was confirmed by the FT-IR, analysis. The list of bands of basal EPS of Microbacterium resistens at 668- 1637 cm-1 interval was present. In EPS sample of Bacillus cereus in anomeric region, characteristic absorption bands was 1048-1083 cm-1 showed the presence of alcohol, ether, carboxylic and ester group. The IR spectrum of Bacillus cereus was very similar to that of Microbacterium resistens only functional groups alkynes (668 cm-1) and carboxylic acids (2342 cm-1) were absent.