Abstract: A cooled cabinet assembly for the storage of vials, beakers or the like is disclosed. The assembly comprises an insulating tray, a cooling element, and a fan. The insulating tray comprises a bottom wall and a plurality of side walls extending upwardly from a periphery of the bottom wall. The insulating tray has an open upper end and defining an insulated cavity. The cooling element is positioned in air flow communication with the insulated cavity. The fan is configured to circulate air over the cooling element and into the insulated cavity and the drip pan is positioned to capture condensate from the cooling element. In one embodiment, an inside surface of the bottom wall inclines downwardly toward a drip pan to provide for gravity flow of condensate from the cavity to the drip pan. An insulating lid is provided to close of the cabinet when not in use. Insulating bands or rings are provided for positioning on the vials upper ends to reduce heat and moisture infiltration into the cabinet.