Yes, you do.... or at least, you should. CD 1 (the install CD) of almost every current major distribution can be used as a rescue disk to rescue at the very least the install of the distribution in question.
I'm sorry that I'm not familiar with the Fedora install specifically (I only "know" it insofar as it's presumably like other Anaconda-based installers), but what I would suggest is that you boot from CD 1, and after you choose a language, you should have 3 options: install new (don't want that), upgrade install (keep that as the second choice if the repair doesn't work), and repair installed system (as the CD should detect that Fedora is already installed).
Basically, it sounds like what has happened is that your bootloader didn't install properly, so if there is a 'repair installed system' option, choose 'Repair bootloader', or if that is not an available choice, do an upgrade install and go straight to the bootloader configuration section and reinstall or change your bootloader. You might also go by the official Fedora site, or one of the many unofficial Fedora sites, and see if this is a known problem for Fedora 2, and whether there's a posted workaround.
You might also go by the GRUB homepage and read the manual at
http://www.gnu.org/software/grub/manual/ , which I'm sure will offer some clue as to what to do when such an error occurs (i.e., how to reinstall grub from the command line).
Hope this helps.