An electrostatic storage ring for polar molecules is proposed, including an analysis of the ring dynamics, loading, and losses for experimentally practical parameters. It is shown that storage lifetimes on the order of 10(3)-10(4) s can be expected for methyl fluoride under reasonable operating conditions. A design for the storage ring is presented along with potential applications to molecular beam steering, molecular collision physics, and surface deposition and lithography. Other approaches to molecular storage are also briefly discussed. (C) 1997 American Institute of Physics. [S0021-9606(97)01744-3].