<DOCUMENT>
<TYPE>EX-99.77I NEW SECUR
<SEQUENCE>3
<FILENAME>gut77i.txt
<TEXT>
THE GABELLI UTILITY TRUST
EXHIBIT TO ITEM 77I


On October 22, 2004, The Gabelli Utility Trust (the "Trust"),
organized as a Delaware business Trust, distributed one
transferable right for each of the 23,118,185 common shares
outstanding to shareholders of record on October 20, 2004.  Four
rights were required to purchase one additional common share at
the subscription price of $7.00 per share.  Shareholders who
exercised their full primary subscription rights were eligible
for an over-subscription privilege entitling them to subscribe,
subject to certain limitations and pro-rata allotment, for any
additional shares not purchased pursuant to the primary
subscription plus additional amounts as authorized by the Board
of Trustees in accordance with the Registration Statement.  The
subscription period expired on November 26, 2004.  The rights
offering was fully and over-subscribed resulting in the issuance
of 5,779,547 common shares and proceeds of $40,465,829 to the
Trust, prior to the deduction of estimated expenses of $475,000.
The net asset value per share of the Trust common shareholders
was reduced by approximately $0.06 per share as a result of the
issuance of the shares attributable to the rights offering below
net asset value.

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</DOCUMENT>
