SCHEDULE 14A INFORMATION

                 Proxy                           Statement Pursuant to Section
                                                 14(a) of the Securities
                                                 Exchange Act of 1934 (Amendment
                                                 No. )
Filed by Registrant [ X ]
Filed by a Party other than the Registrant [    ]
Check the appropriate box:
[    ]  Preliminary Proxy Statement
[    ]  Confidential, for Use of the Commission Only (as permitted by Rule
        14a-6(e)(2))
[ X ]   Definitive Proxy Statement
[    ]  Definitive Additional Materials
[    ]  Soliciting Material Pursuant to Sec. 240.14a-12

                            THE GABELLI UTILITY TRUST
                (Name of Registrant as Specified In Its Charter)

    (Name of Person(s) Filing Proxy Statement, if other than the Registrant)

Payment of Filing Fee (Check the appropriate box):

[ X ]  No fee required

[   ]  Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and
       0-11.
       1) Title of each class of securities to which transaction applies:


       2)  Aggregate number of securities to which transaction applies:


       3)  Per unit price or other underlying value of transaction computed
           pursuant to Exchange Act Rule 0-11(set forth the amount on which the
           filing fee is calculated and state how it was determined):


       4)  Proposed maximum aggregate value of transaction:


       5)  Total fee paid:


[ ]    Fee paid previously with preliminary materials.

[ ]    Check box if any part of the fee is offset as provided by Exchange Act
       Rule 0-11(a)(2) and identify the filing for which the offsetting fee was
       paid previously. Identify the previous filing by registration statement
       number, or the Form or Schedule and the date of its filing.

       1) Amount Previously Paid:


       2) Form, Schedule or Registration Statement No.:


       3) Filing Party:


       4) Date Filed:



                           THE GABELLI UTILITY TRUST
                              One Corporate Center
                            Rye, New York 10580-1422
                                 (914) 921-5070
                               ------------------
                    NOTICE OF ANNUAL MEETING OF SHAREHOLDERS
                           TO BE HELD ON MAY 15, 2006
                               ------------------

To the Shareholders of
THE GABELLI UTILITY TRUST

     Notice is  hereby  given  that the  Annual  Meeting  of  Shareholders  (the
"Meeting")  of The Gabelli  Utility Trust (the "Trust") will be held at The Cole
Auditorium,   The  Greenwich  Library,   101  West  Putnam  Avenue,   Greenwich,
Connecticut  06830,  on Monday,  May 15, 2006, at 11:00 a.m.,  for the following
purposes:

     1. To elect three (3) Trustees of the Trust, two (2) Trustees to be elected
        by the holders of the Trust's  Common  Shares and  holders of its 5.625%
        Series  A  Cumulative  Preferred  Shares  and  Series B  Auction  Market
        Preferred  Shares (together,  the "Preferred Shares"),  voting  together
        as a single class, and one (1) Trustee to be elected by  the  holders of
        the  Trust's  Preferred Shares, voting as a separate class (PROPOSAL 1);
        and

     2. To consider and vote upon such other matters, including adjournments, as
        may properly come before said Meeting or any adjournments thereof.

     These  items  are  discussed  in  greater  detail  in  the  attached  Proxy
Statement.

     The close of  business  on March 13, 2006 has been fixed as the record date
for the  determination of shareholders  entitled to notice of and to vote at the
Meeting and any adjournments thereof.

     YOUR  VOTE IS  IMPORTANT  REGARDLESS  OF THE SIZE OF YOUR  HOLDINGS  IN THE
TRUST.  WHETHER  OR NOT YOU PLAN TO ATTEND THE  MEETING,  WE ASK THAT YOU PLEASE
COMPLETE,  SIGN,  AND DATE THE ENCLOSED PROXY CARD AND RETURN IT PROMPTLY IN THE
ENCLOSED  ENVELOPE,  WHICH  NEEDS NO  POSTAGE  IF MAILED IN THE  UNITED  STATES.
INSTRUCTIONS  FOR THE PROPER  EXECUTION  OF PROXIES  ARE SET FORTH ON THE INSIDE
COVER.

                                         By Order of the Board of Trustees,



                                         JAMES E. MCKEE
                                         SECRETARY

April 17, 2006



                      INSTRUCTIONS FOR SIGNING PROXY CARDS

     The following general rules for signing proxy cards may be of assistance to
you and avoid the time and expense to the Trust involved in validating your vote
if you fail to sign your proxy card properly.

     1. INDIVIDUAL  ACCOUNTS:  Sign  your  name  exactly  as it  appears  in the
        registration on the proxy card.

     2. JOINT ACCOUNTS: Either party may sign, but the name of the party signing
        should conform exactly to the name shown in the registration.

     3. ALL OTHER ACCOUNTS:  The capacity of the  individuals  signing the proxy
        card should  be  indicated  unless  it  is  reflected  in  the  form  of
        registration. For example:

        REGISTRATION                               VALID SIGNATURE

        CORPORATE ACCOUNTS

        (1) ABC Corp.                              ABC Corp.
        (2) ABC Corp.                              John Doe, Treasurer
        (3) ABC Corp.
            c/o John Doe, Treasurer                John Doe
        (4) ABC Corp., Profit Sharing Plan         John Doe, Trustee

        TRUST ACCOUNTS

        (1) ABC Trust                              Jane B. Doe, Trustee
        (2) Jane B. Doe, Trustee
            u/t/d 12/28/78                         Jane B. Doe

        CUSTODIAN OR ESTATE ACCOUNTS

        (1) John B. Smith, Cust.
            f/b/o John B. Smith, Jr. UGMA          John B. Smith
        (2) John B. Smith, Executor
            Estate of Jane Smith                   John B. Smith, Executor

                           TELEPHONE/INTERNET VOTING

     Various  brokerage  firms may offer the convenience of providing you voting
instructions  via  telephone or the Internet for shares held through such firms.
If  available,  instructions  are included  with this Proxy  Statement and proxy
card.



                            THE GABELLI UTILITY TRUST
                                   ----------
                         ANNUAL MEETING OF SHAREHOLDERS
                                  MAY 15, 2006
                                   ----------
                                PROXY STATEMENT

     This Proxy  Statement is furnished in connection  with the  solicitation of
proxies by the Board of Trustees of The Gabelli  Utility Trust (the "Trust") for
use at the Annual Meeting of Shareholders of the Trust to be held on Monday, May
15, 2006, at 11:00 a.m., at The Cole Auditorium, The Greenwich Library, 101 West
Putnam Avenue,  Greenwich,  Connecticut  06830, and at any adjournments  thereof
(the  "Meeting").  A Notice of Annual  Meeting  of  Shareholders  and proxy card
accompany  this  Proxy  Statement,  all of  which  are  first  being  mailed  to
shareholders on or about April 17, 2006.

     In addition to the  solicitation of proxies by mail,  officers of the Trust
and  officers  and  regular  employees  of  Computershare  Trust  Company,  N.A.
("Computershare"),  the Trust's  transfer agent, and affiliates of Computershare
or other  representatives  of the Trust also may solicit  proxies by  telephone,
telegraph,  Internet,  or in person.  In  addition,  the Trust has  retained The
Altman Group, Inc. to assist in the solicitation of proxies for a minimum fee of
$2,500 plus reimbursement of expenses. The Trust will pay the costs of the proxy
solicitation  and the expenses  incurred in connection  with preparing the Proxy
Statement and its enclosures.  The Trust will also reimburse brokerage firms and
others for their expenses in forwarding solicitation materials to the beneficial
owners of its shares.

     THE  TRUST'S  MOST  RECENT  ANNUAL  REPORT,   INCLUDING  AUDITED  FINANCIAL
STATEMENTS  FOR THE YEAR ENDED  DECEMBER 31, 2005,  IS AVAILABLE  UPON  REQUEST,
WITHOUT CHARGE, BY WRITING TO THE TRUST AT ONE CORPORATE  CENTER,  RYE, NEW YORK
10580-1422,  BY  CALLING  THE  TRUST AT  800-422-3554,  OR VIA THE  INTERNET  AT
WWW.GABELLI.COM.

     If the enclosed proxy is properly executed and returned in time to be voted
at the Meeting,  the Shares (as defined below) represented thereby will be voted
"FOR" the election of the nominees as Trustees listed in the accompanying Notice
of Annual  Meeting of  Shareholders,  unless  instructions  to the  contrary are
marked thereon, and at the discretion of the proxy holders as to the transaction
of any other business that may properly come before the Meeting. Any shareholder
who has  given a proxy  has the  right to  revoke  it at any  time  prior to its
exercise  either by attending the Meeting and voting his or her shares in person
or by submitting a letter of  revocation or a later-dated  proxy to the Trust at
the above address prior to the date of the Meeting.

     A quorum of  shareholders  is  constituted  by the presence in person or by
proxy of the  holders  of a  majority  of the  outstanding  shares  of the Trust
entitled  to vote at the  Meeting.  In the event a quorum is not  present at the
Meeting,  or in the event that a quorum is present at the Meeting but sufficient
votes to approve any of the proposed  items are not received,  the persons named
as  proxies  may  propose  one or more  adjournments  of such  Meeting to permit
further  solicitation of proxies. A shareholder vote may be taken on one or more
of the proposals in this Proxy Statement prior to such adjournment if sufficient
votes have been received for approval and it is otherwise appropriate.  Any such
adjournment  will  require the  affirmative  vote of a majority of those  shares
present  at the  Meeting  in  person or by proxy.  If a quorum is  present,  the
persons named as proxies will vote those proxies which they are entitled to vote
"FOR" any  proposal  in favor of such  adjournment  and will vote those  proxies
required to be voted "AGAINST" any proposal against any such adjournment. Absent
the  establishment  of a subsequent  record date and the giving of notice to the
holders of record thereon,  the adjourned  Meeting must take place not more than
120 days after the record date. At such adjourned  Meeting,  any business may be
transacted which might have been transacted at the original Meeting. If a quorum
is  present,  a  shareholder  vote may be taken on one or more of the  proposals
properly brought before the Meeting prior to any adjournment if sufficient votes
have been received and it is otherwise appropriate.

                                       1



     The close of  business  on March 13, 2006 has been fixed as the record date
for the  determination of shareholders  entitled to notice of and to vote at the
Meeting and all adjournments thereof.

     The Trust has two classes of capital stock: common shares, par value $0.001
per share (the "Common  Shares") and preferred  shares  consisting of (i) 5.625%
Series A Cumulative  Preferred  Shares  ("Series A Preferred") and (ii) Series B
Auction Market Preferred Shares ("Series B Preferred"),  each having a par value
of $0.001 per share  (together,  the  "Preferred  Shares" and together  with the
Common  Shares,  the  "Shares").  The holders of the Common Shares and Preferred
Shares are each entitled to one vote for each full share held and an appropriate
fraction of a vote for each  fractional  share held.  On the record date,  there
were 29,363,873 Common Shares,  1,184,200 Series A Preferred  Shares,  and 1,000
Series B Preferred Shares outstanding.

     As of the  record  date,  there  were no  persons  known to the Trust to be
beneficial  owners of more than 5% of the Trust's  outstanding  Common Shares or
Preferred Shares.




                  SUMMARY OF VOTING RIGHTS ON PROXY PROPOSALS

PROPOSAL                COMMON SHAREHOLDERS                             PREFERRED SHAREHOLDERS
                                                                  
1.  Election  of        Common  and  Preferred  Shareholders,           Common  and  Preferred Shareholders,
    Trustees            voting together as a single class,              voting together as a single class,
                        vote to elect two Trustees:                     vote to elect two Trustees:
                        John D. Gabelli and                             John D. Gabelli and
                        Anthony R. Pustorino                            Anthony R. Pustorino

                                                                        Preferred Shareholders,
                                                                        voting as a separate class,
                                                                        vote to elect one Trustee:
                                                                        James P. Conn

2.  Other Business      Common and Preferred Shareholders, voting together as a single class.


     In order  that your  Shares  may be  represented  at the  Meeting,  you are
requested to vote on the following matters:

                                       2



              PROPOSAL 1: TO ELECT THREE (3) TRUSTEES OF THE TRUST

NOMINEES FOR THE BOARD OF TRUSTEES

     The Board of Trustees is divided  into three  classes,  each class having a
term of three  years.  Each year the term of office  of one class  will  expire.
James P.  Conn,  John D.  Gabelli,  and  Anthony  R.  Pustorino  have  each been
nominated  by the  Board of  Trustees  for a  three-year  term to  expire at the
Trust's 2009 Annual Meeting of Shareholders  or until their  successors are duly
elected and qualified. James P. Conn has been nominated by the Board of Trustees
for  election by the holders of the Trust's  Preferred  Shares for a  three-year
term to expire at the Trust's 2009 Annual Meeting of  Shareholders  or until his
successor is duly elected and  qualified.  Each of the Trustees of the Trust has
served in that capacity since the March 29, 1999  organizational  meeting of the
Trust.  All of the Trustees of the Trust are also directors or trustees of other
investment  companies  for  which  Gabelli  Funds,  LLC (the  "Adviser")  or its
affiliates  serve as investment  adviser.  The classes of Trustees are indicated
below:

NOMINEES TO SERVE UNTIL 2009 ANNUAL MEETING OF SHAREHOLDERS
James P. Conn
John D. Gabelli
Anthony R. Pustorino

TRUSTEES SERVING UNTIL 2008 ANNUAL MEETING OF SHAREHOLDERS
Anthony J. Colavita
Frank J. Fahrenkopf, Jr.
Robert J. Morrissey
Salvatore J. Zizza

TRUSTEES SERVING UNTIL 2007 ANNUAL MEETING OF SHAREHOLDERS
Mario J. Gabelli, CFA
Thomas E. Bratter
Vincent D. Enright

     Under the Trust's Declaration of Trust,  Statement of Preferences,  and the
Investment  Company Act of 1940,  as amended  (the "1940  Act"),  holders of the
Trust's outstanding  Preferred Shares,  voting as a separate class, are entitled
to elect two Trustees,  and holders of the Trust's outstanding Common Shares and
Preferred  Shares,  voting together as a single class, are entitled to elect the
remaining  Trustees,  subject to the  provisions of the 1940 Act and the Trust's
Declaration of Trust, Statement of Preferences,  and By-Laws. The holders of the
Trust's  outstanding  Preferred  Shares  would be  entitled to elect the minimum
number of additional Trustees that would represent a majority of the Trustees in
the event that dividends on the Trust's  Preferred Shares are in arrears for two
full years. No dividend arrearages exist as of the date of this Proxy Statement.
Messrs.  Colavita  and Conn are  currently  the Trustees  elected  solely by the
holders of the Trust's Preferred Shares. A quorum of the Preferred  Shareholders
must be present at the Meeting in order for the proposal to elect Mr. Conn to be
considered.

     Unless  authority is withheld,  it is the intention of the persons named in
the proxy to vote the proxy "FOR" the election of the nominees named above. Each
nominee has indicated  that he has consented to serve as a Trustee if elected at
the Meeting.  If a designated nominee declines or otherwise becomes  unavailable
for  election,  however,  the proxy confers  discretionary  power on the persons
named therein to vote in favor of a substitute nominee or nominees.

                                       3



INFORMATION ABOUT TRUSTEES AND OFFICERS

     Set forth in the table below are the  existing  Trustees  and  Nominees for
election  to the  Board  of the  Trust  and  officers  of the  Trust,  including
information  relating to their respective positions held with the Trust, a brief
statement of their  principal  occupations  during the past five years and other
directorships (excluding other funds managed by the Adviser, if any.



                               TERM OF                                                                                  NUMBER OF
                             OFFICE AND                                                                               PORTFOLIOS IN
NAME, POSITION(S)             LENGTH OF                                                                               FUND COMPLEX
    ADDRESS 1                   TIME         PRINCIPAL OCCUPATION(S)                        OTHER DIRECTORSHIPS         OVERSEEN
    AND AGE                    SERVED 2      DURING PAST FIVE YEARS                          HELD BY TRUSTEE           BY TRUSTEE
    --------                   --------      ----------------------                          ----------------          -----------
INTERESTED TRUSTEES/NOMINEES 3:
-------------------------------
                                                                                                                 

MARIO J. GABELLI               Since 1999*** Chairman of the Board and Chief                 Director of Morgan Group           23
Trustee and                                  Executive Officer of GAMCO Investors,           Holdings, Inc. (holding
Chief Investment Officer                     Inc. and Chief Investment Officer - Value       company)
Age: 63                                      Portfolios of Gabelli Funds, LLC and            GAMCO Asset Management Inc.;
                                             Chairman and Chief Executive Officer
                                             of Lynch Interactive Corporation
                                             (multimedia and services)

JOHN D. GABELLI                Since 1999*   Senior Vice President of Gabelli &              Director of GAMCO Investors,       10
Trustee                                      Company, Inc.                                   Inc. (asset management)
Age: 61

NON-INTERESTED TRUSTEES/NOMINEES:
--------------------------------
THOMAS E. BRATTER              Since 1999*** Director, President and Founder of                        --                        3
Trustee                                      The John Dewey Academy
Age: 66                                      (residential college preparatory
                                             therapeutic high school)

ANTHONY J. COLAVITA 4          Since 1999**  Partner in the law firm of Anthony J.                     --                       33
Trustee                                      Colavita, P.C.
Age: 70

JAMES P. CONN 4                Since 1999*   Former Managing Director and                    Director of First Republic Bank    14
Trustee                                      Chief Investment Officer of                     (banking)
Age: 68                                      Financial Security Assurance
                                             Holdings Ltd. (insurance holding
                                             company) (1992-1998)

VINCENT D. ENRIGHT             Since 1999*** Former Senior Vice President and Chief          Director of Aphton                 13
Trustee                                      Financial Officer of KeySpan Energy             Corporation
Age: 62                                      Corp. (utility holding company)                 (biopharmaceuticals)
                                             (1994-1998)

FRANK J. FAHRENKOPF, JR.       Since 1999**  President and Chief Executive                   Director of First Republic Bank     5
Trustee                                      Officer of the American Gaming                  (banking)
Age: 66                                      Association; Co-Chairman of the
                                             Commission on Presidential Debates;
                                             Chairman of the Republican
                                             National Committee (1983-1989)

ROBERT J. MORRISSEY            Since 1999**  Partner in the law firm of Morrissey,                      --                       6
Trustee                                      Hawkins & Lynch
Age: 66

ANTHONY R. PUSTORINO           Since 1999*   Certified Public Accountant; Professor          Director of                        14
Trustee                                      Emeritus, Pace University                       Lynch Corporation
Age: 80                                                                                      (diversified manufacturing)

SALVATORE J. ZIZZA             Since 1999**  Chairman of Hallmark Electrical                 Director of Hollis Eden            24
Trustee                                      Supplies Corp.                                  Pharmaceuticals (biotechnology)
Age: 60                                                                                      and Earl Scheib, Inc.
                                                                                             (automotive services)


                                       4




                               TERM OF
                             OFFICE AND
NAME, POSITION(S)             LENGTH OF
    ADDRESS 1                   TIME         PRINCIPAL OCCUPATION(S)
    AND AGE                    SERVED        DURING PAST FIVE YEARS
    --------                   ------        ----------------------
OFFICERS:
--------
                                          

BRUCE N. ALPERT                Since 2003    Executive Vice President and Chief Operating
President                                    Officer of Gabelli Funds, LLC since 1988;
Age: 54                                      Director and President of Gabelli Advisers, Inc.
                                             since 1998; Officer of all registered
                                             investment companies in the Gabelli Funds complex.

PETER D. GOLDSTEIN             Since 2004    Director of Regulatory Affairs for GAMCO Investors,
Chief Compliance Officer                     Inc. since 2004; Chief Compliance Officer
Age: 52                                      of all registered investment companies
                                             in the Gabelli Funds complex; Vice President of
                                             Goldman Sachs Asset Management from
                                             2000-2004.

JAMES E. MCKEE                 Since 1999    Vice President, General Counsel and Secretary
Secretary                                    of GAMCO Investors, Inc. since 1999 and GAMCO
Age: 42                                      Asset Management Inc. since 1993; Secretary
                                             of all registered investment companies advised by
                                             Gabelli Advisers, Inc. and Gabelli Funds, LLC.

AGNES MULLADY                  Since 2006    Officer of all registered investment companies
Treasurer and Principal                      in the Gabelli Funds complex; Senior Vice President of
Financial Officer                            U.S. Trust Company, N.A. and Treasurer and Chief
Age: 47                                      Financial Officer of Excelsior Funds from 2004-2005;
                                             Chief Financial Officer of AMIC Distribution Partners from
                                             2002-2004; Controller of Reserve Management, Inc.
                                             and Reserve Partners, Inc. and Treasurer of Reserve Funds
                                             from 2000-2002.

DAVID I. SCHACHTER             Since 1999    Vice President of the Trust since 1999; Vice President
Vice President                               of The Gabelli Global Utility & Income Trust since
Age: 52                                      2004; Vice President of Gabelli & Company, Inc. since
                                             1999;  Vice President of Thomas J. Herzfeld Advisors,
                                             Inc. (a registered investment adviser and noted closed-
                                             end fund authority) prior to 1999.

----------
     1   Address:  One  Corporate  Center,  Rye,  New  York  10580-1422,  unless
         otherwise noted.
     2   The Trust's Board of Trustees is divided into three classes, each class
         having a term of three years. Each year the term of office of one class
         expires and the successor or successors elected to such class serve for
         a three-year term.
     *   Nominee to serve, if elected,  until the Trust's 2009 Annual Meeting of
         Shareholders or until his successor is duly elected and qualified.
     **  Term continues until the Trust's 2008 Annual Meeting of Shareholders or
         until his successor is duly elected and  qualified.
    ***  Term continues until the Trust's  2007  Annual Meeting of  Shareholders
         or until his successor is duly elected and qualified.
     3   "Interested  person" of the Trust, as defined in the 1940 Act.  Messrs.
         Mario  Gabelli and John  Gabelli  are each  considered  an  "interested
         person" of the Trust because of their  affiliation  with Gabelli Funds,
         LLC,  which is the  Trust's  investment  adviser and Gabelli & Company,
         Inc., which executes  portfolio  transactions for the Trust (and in the
         case of Mario  Gabelli,  as a  controlling  shareholder  because of the
         level of his  ownership of common shares of the Trust).  Messrs.  Mario
         Gabelli and John Gabelli are brothers.
     4   As a  Trustee,  elected  solely by  holders  of the  Trust's  Preferred
         Shares.



                                       5


BENEFICIAL  OWNERSHIP  OF SHARES HELD IN THE TRUST AND THE FUND COMPLEX FOR EACH
TRUSTEE AND NOMINEE FOR ELECTION AS TRUSTEE

     Set forth in the table below is the dollar  range of equity  securities  in
the Trust beneficially owned by each Trustee and Nominee for election as Trustee
and the  aggregate  dollar  range  of  equity  securities  in the  Fund  complex
beneficially owned by each Trustee and Nominee for election as Trustee.



     NAME OF TRUSTEE/NOMINEE        DOLLAR RANGE OF EQUITY    AGGREGATE DOLLAR RANGE OF EQUITY
                                       SECURITIES HELD                SECURITIES HELD
                                        IN THE TRUST*(1)            IN FUND COMPLEX*(1)(2)

INTERESTED TRUSTEES/NOMINEES:
----------------------------
                                                                   
Mario J. Gabelli                            E                             E

John D. Gabelli                             A                             E

NON-INTERESTED TRUSTEES/NOMINEES:
--------------------------------
Thomas E. Bratter                           A                             E

Anthony J. Colavita**                       D                             E

James P. Conn                               D                             E

Vincent D. Enright                          A                             E

Frank J. Fahrenkopf, Jr.                    A                             B

Robert J. Morrissey                         A                             E

Anthony R. Pustorino**                      C                             E

Salvatore J. Zizza                          E                             E

--------------------------
*        Key to Dollar Ranges
A.       None
B.       $1 - $10,000
C.       $10,001 - $50,000
D.       $50,001 - $100,000
E.       Over $100,000
All shares were valued as of December 31, 2005.

**   Messrs.  Colavita and Pustorino each  beneficially  own less than 1% of the
     common stock of Lynch  Corporation,  having a value of $16,517 and $19,272,
     respectively,  as of December 31, 2005. Lynch  Corporation may be deemed to
     be  controlled  by Mario J. Gabelli and in that event would be deemed to be
     under common control with the Trust's Adviser.
(1)  This  information  has been  furnished  by each  Trustee  and  Nominee  for
     election as Trustee as of December  31,  2005.  "Beneficial  Ownership"  is
     determined  in  accordance  with  Section  16a-1(a)(2)  of  the  Securities
     Exchange Act of 1934, as amended (the "1934 Act").
(2)  The "Fund Complex"  includes all the funds that are considered  part of the
     same fund  complex  as the Trust  because  they have  common or  affiliated
     investment advisers.



                                       6


Set forth in the table below is the amount of shares  beneficially owned by each
Trustee of the Trust.

                              AMOUNT AND NATURE OF          PERCENT OF SHARES
NAME OF TRUSTEE/NOMINEE      BENEFICIAL OWNERSHIP (1)        OUTSTANDING (2)
-----------------------      ------------------------        ---------------
INTERESTED TRUSTEES:
-------------------
Mario J. Gabelli                    590,739 (3)                    2.0%
John D. Gabelli                         0                            *

NON-INTERESTED TRUSTEES/NOMINEES:
---------------------------------
Thomas E. Bratter                       0                            *
Anthony J. Colavita                   6,889 (4)                      *
                               400 Series A Preferred (5)            *
James P. Conn                         5,543                          *
                             1,000 Series A Preferred                *
Vincent D. Enright                      0                            *
Frank J. Fahrenkopf, Jr.                0                            *
Robert J. Morrissey                     0                            *
Anthony R. Pustorino                  2,621 (6)                      *
                             1,000 Series A Preferred                *
Salvatore J. Zizza                   20,904 (7)                      *
--------------------------
(1)  This  information  has been  furnished  by each  Trustee  and  Nominee  for
     election as Trustee as of December  31,  2005.  "Beneficial  Ownership"  is
     determined in accordance with Section 16a-1(a)(2) of the 1934 Act. Reflects
     ownership of common shares unless otherwise noted.
(2)  An asterisk indicates that the ownership amount constitutes less than 1% of
     the total shares outstanding.
(3)  Includes  354,309 shares owned directly by Mr. Gabelli,  8,806 shares owned
     by a family  partnership  for which Mr. Gabelli serves as general  partner,
     and 227,624 shares owned by GAMCO  Investors,  Inc. or its affiliates.  Mr.
     Gabelli  disclaims   beneficial   ownership  of  the  shares  held  by  the
     discretionary  accounts and by the  entities  named except to the extent of
     his interest in such entities.
(4)  Comprised of 6,889 common shares owned by Mr.  Colavita's  spouse for which
     he disclaims beneficial ownership.
(5)  Comprised of 400 preferred shares owned by Mr.  Colavita's spouse for which
     he disclaims beneficial ownership.
(6)  Includes  740 common  shares owned by Mr.  Pustorino's  spouse for which he
     disclaims beneficial ownership.
(7)  Includes  15,678  common  shares  owned by Mr.  Zizza's  sons for  which he
     disclaims beneficial ownership.

     The Trust pays each Trustee who is not  affiliated  with the Adviser or its
affiliates a fee of $6,000 per year plus $500 per meeting attended in person and
by telephone,  including Committee meetings,  together with the Trustee's actual
out-of-pocket expenses relating to his attendance at such meetings. In addition,
the Audit Committee Chairman receives an annual fee of $3,000 and the Nominating
Committee Chairman receives an annual fee of $2,000. The aggregate  remuneration
(not including out-of-pocket expenses) paid by the Trust to such Trustees during
the year ended  December  31, 2005  amounted  to $56,217.  During the year ended
December  31, 2005,  the Trustees of the Trust met six times,  two of which were
special meetings of Trustees.  Each Trustee then serving in such capacity,  with
the exception of Mr. Conn, attended at least 75% of the meetings of Trustees and
of any Committee of which he is a member.

AUDIT COMMITTEE REPORT

     The role of the  Trust's  Audit  Committee  (the "Audit  Committee")  is to
assist the Board of Trustees in its  oversight of (i) the quality and  integrity
of Trust's financial  statement  reporting process and the independent audit and
reviews thereof;  (ii) the Trust's  accounting and financial  reporting policies
and practices, its internal controls, and, as appropriate, the internal controls
of certain of its service providers; (iii) the Trust's compliance with legal and
regulatory  requirements;  and (iv) the independent registered public accounting
firm's qualifications,  independence,  and performance. The Audit Committee also
is required to prepare an audit  committee  report  pursuant to the rules of the
Securities  and  Exchange  Commission  (the "SEC") for  inclusion in the Trust's
annual  proxy  statement.  The Audit  Committee  operates  pursuant to the Audit
Committee  Charter (the "Charter") that was most recently  reviewed and approved
by the Board of Trustees on February 15, 2006.

     Pursuant to the Charter,  the Audit Committee is responsible for conferring
with the Trust's independent registered public accounting firm, reviewing annual
financial  statements,  approving  the  selection  of  the  Trust's  independent
registered public accounting firm, and overseeing the Trust's internal controls.
The Charter also contains  provisions  relating to the pre-approval by the Audit
Committee of certain non-audit services to be provided by PricewaterhouseCoopers
LLP  ("PricewaterhouseCoopers")  to the Trust and to the  Adviser and certain of
its affili-

                                       7


ates.  The  Audit  Committee  advises the full Board with respect to accounting,
auditing,  and  financial  matters  affecting  the  Trust.  As set  forth in the
Charter,  management is  responsible  for  maintaining  appropriate  systems for
accounting and internal control,  and the Trust's independent  registered public
accounting  firm is responsible  for planning and carrying out proper audits and
reviews.  The  independent  registered  public  accounting  firm  is  ultimately
accountable  to  the  Board  of  Trustees  and  to  the  Audit   Committee,   as
representatives  of shareholders.  The independent  registered public accounting
firm for the Trust reports directly to the Audit Committee.

     In  performing  its oversight  function,  at a meeting held on February 13,
2006, the Audit  Committee  reviewed and discussed with  management of the Trust
and  PricewaterhouseCoopers  the audited financial statements of the Trust as of
and for the year  ended  December  31,  2005,  and  discussed  the audit of such
financial statements with the independent registered public accounting firm.

     In addition,  the Audit Committee discussed with the independent registered
public accounting firm the accounting  principles  applied by the Trust and such
other matters brought to the attention of the Audit Committee by the independent
registered public accounting firm as required by Statement of Auditing Standards
No.  61,  COMMUNICATIONS  WITH  AUDIT  COMMITTEES,   as  currently  modified  or
supplemented.  The Audit Committee also received from the independent registered
public  accounting firm the written  disclosures and statements  required by the
SEC's  independence  rules,  delineating  relationships  between the independent
registered  public  accounting firm and the Trust, and discussed the impact that
any such  relationships  might have on the objectivity  and  independence of the
independent registered public accounting firm.

     As set forth above,  and as more fully set forth in the Charter,  the Audit
Committee has  significant  duties and powers in its oversight role with respect
to the Trust's financial reporting procedures, internal control systems, and the
independent audit process.

     The members of the Audit Committee are not, and do not represent themselves
to be, professionally  engaged in the practice of auditing or accounting and are
not  employed by the Trust for  accounting,  financial  management,  or internal
control  purposes.  Moreover,  the  Audit  Committee  relies  on  and  makes  no
independent verification of the facts presented to it or representations made by
management  or  independent  verification  of  the  facts  presented  to  it  or
representations made by management or the Trust's independent  registered public
accounting firm.  Accordingly,  the Audit Committee's oversight does not provide
an  independent  basis to determine that  management has maintained  appropriate
accounting  and/or  financial  reporting  principles  and policies,  or internal
controls and procedures, designed to assure compliance with accounting standards
and  applicable  laws  and  regulations.   Furthermore,  the  Audit  Committee's
considerations  and discussions  referred to above do not provide assurance that
the audit of the Trust's financial statements has been carried out in accordance
with the  standards of the Public  Company  Accounting  Oversight  Board (United
States) or that the  financial  statements  are  presented  in  accordance  with
generally accepted accounting principles (United States).

     Based on its  consideration  of the audited  financial  statements  and the
discussions  referred  to above  with  management  and the  Trust's  independent
registered  public  accounting  firm,  and  subject  to the  limitations  on the
responsibilities  and role of the Audit  Committee  set forth in the Charter and
those discussed above,  the Audit Committee  recommended to the Trust's Board of
Trustees  that the  Trust's  audited  financial  statements  be  included in the
Trust's Annual Report for the year ended December 31, 2005.


       SUBMITTED BY THE AUDIT COMMITTEE OF THE TRUST'S BOARD OF TRUSTEES

       Anthony R. Pustorino, Chairman
       Anthony J. Colavita
       Vincent D. Enright

       February 15, 2006

                                       8


     The Audit  Committee met twice during the year ended December 31, 2005. The
Audit Committee is composed of three of the Trust's independent (as such term is
defined by the New York Stock  Exchange's  listing  standards (the "NYSE Listing
Standards")) Trustees,  namely Messrs.  Colavita,  Enright, and Pustorino.  Each
member of the Audit Committee has been determined by the Board of Trustees to be
financially literate.

NOMINATING COMMITTEE

     The  Board  of  Trustees  has a  Nominating  Committee  composed  of  three
independent  (as such term is defined by the NYSE Listing  Standards)  Trustees,
namely Messrs.  Colavita,  Enright, and Zizza. The Nominating Committee met once
during the year ended December 31, 2005. The Nominating Committee is responsible
for identifying and recommending to the Board of Trustees  individuals  believed
to be qualified to become Board  members in the event that a position is vacated
or  created.   The  Nominating   Committee  will  consider  Trustee   candidates
recommended   by   shareholders.   In   considering   candidates   submitted  by
shareholders, the Nominating Committee will take into consideration the needs of
the Board of Trustees, the qualifications of the candidate, and the interests of
shareholders.  The  Nominating  Committee may also take into  consideration  the
number of shares  held by the  recommending  shareholder  and the length of time
that such shares have been held. To recommend a candidate for  consideration  by
the  Nominating  Committee,  a  shareholder  must submit the  recommendation  in
writing and must include the following information:

     o   The name of the shareholder and evidence of the shareholder's ownership
         of shares of the Trust,  including  the number of shares  owned and the
         length of time of ownership;
     o   The name of the candidate,  the candidate's  resume or a listing of his
         or her  qualifications  to be a Trustee of the Trust,  and the person's
         consent  to be  named  as a  Trustee  if  selected  by  the  Nominating
         Committee and nominated by the Board of Trustees; and
     o   If  requested  by the  Nominating  Committee,  a  completed  and signed
         trustees' questionnaire.

     The shareholder recommendation and information described above must be sent
to James E.  McKee,  the  Trust's  Secretary,  c/o  Gabelli  Funds,  LLC, at One
Corporate Center,  Rye, NY 10580-1422,  and must be received by the Secretary no
less than 120 days prior to the  anniversary  date of the  Trust's  most  recent
annual  meeting of  shareholders  or, if the  meeting  has moved by more than 30
days, a reasonable amount of time before the meeting.

     The  Nominating  Committee  believes  that the minimum  qualifications  for
serving  as a  Trustee  of the  Trust are that the  individual  demonstrate,  by
significant  accomplishment in his or her field, an ability to make a meaningful
contribution to the Board of Trustees'  oversight of the business and affairs of
the Trust and have an impeccable  record and  reputation  for honest and ethical
conduct in both his or her  professional and personal  activities.  In addition,
the Nominating Committee examines a candidate's specific experiences and skills,
time  availability  in  light  of  other  commitments,  potential  conflicts  of
interest,  and  independence  from  management  and the  Trust.  The  Nominating
Committee  also seeks to have the Board of Trustees  represent  a  diversity  of
backgrounds and experience.

     The Trust's  Nominating  Committee  adopted a charter on May 12, 2004,  and
amended  the  charter on  November  17,  2004.  The  charter can be found on the
Trust's website at www.gabelli.com.

OTHER BOARD-RELATED MATTERS

     The Board of Trustees has established the following  procedures in order to
facilitate  communications  between the Board and the  shareholders of the Trust
and other interested parties.

RECEIPT OF COMMUNICATIONS
-------------------------
     Shareholders  and other  interested  parties  may  contact the Board or any
member of the Board by mail or electronically.  To communicate with the Board or
any member of the Board,  correspondence should be addressed to the Board or the
Board  member(s) with whom you wish to communicate by either name or title.  All
such  correspondence  should be sent c/o the Trust at One Corporate Center, Rye,
NY 10580-1422.  To communicate with the Board  electronically,  shareholders may
send an e-mail to gabellifundsboard@gabelli.com.

                                       9


FORWARDING THE COMMUNICATIONS
-----------------------------
     All  communications  received  will be opened by the office of the  General
Counsel of the Adviser for the sole purpose of determining  whether the contents
represent a message to one or more Trustees.  The office of the General  Counsel
will forward  promptly to the addressee(s) any contents that relate to the Trust
and that  are not in the  nature  of  advertising,  promotion  of a  product  or
service, or patently offensive or otherwise  objectionable material. In the case
of  communications to the Board of Trustees or any committee or group of members
of the Board, the General  Counsel's  office will make sufficient  copies of the
contents to send to each  Trustee who is a member of the group or  committee  to
which the envelope or e-mail is addressed.

     The Trust does not expect  Trustees or Nominees  for election as Trustee to
attend the Annual Meeting of Shareholders.

     The  following   table  sets  forth  certain   information   regarding  the
compensation  of the Trust's  Trustees and officers for the year ended  December
31,  2005.  Mr.  Schachter  is employed by the Trust and is not  employed by the
Adviser  (although he may receive  incentive-based  variable  compensation  from
affiliates  of the  Adviser).  Officers  of the  Trust who are  employed  by the
Adviser receive no compensation or expense reimbursement from the Trust.


                               COMPENSATION TABLE
                      FOR THE year ENDED DECEMBER 31, 2005



                                                            AGGREGATE COMPENSATION FROM
                                AGGREGATE COMPENSATION      THE TRUST AND FUND COMPLEX
NAME OF PERSON AND POSITION         FROM THE TRUST         PAID TO TRUSTEES AND OFFICERS*
---------------------------         --------------         -----------------------------
INTERESTED TRUSTEES/NOMINEES:
----------------------------
                                                                       
MARIO J. GABELLI                            $0                         $0       (24)(diamond)
Chairman of the Board and
Chief Investment Officer

JOHN D. GABELLI                             $0                         $0       (10)
Trustee

KARL OTTO POHL**                            $0                         $7,571   (35)+ (diamond)
Trustee

NON-INTERESTED TRUSTEES/NOMINEES:
--------------------------------
THOMAS E. BRATTER                           $6,083                     $32,750  (3)
Trustee

ANTHONY J. COLAVITA                         $7,335                     $212,473 (37)+ (diamond)
Trustee

JAMES P. CONN                               $5,288                     $83,283  (14)
Trustee

VINCENT D. ENRIGHT                          $7,455                     $80,617  (14)(diamond)
Trustee

FRANK J. FAHRENKOPF, JR.                    $5,975                     $60,183  (5)
Trustee

ROBERT J. MORRISSEY                         $5,833                     $52,261  (10)+ (diamond)
Trustee

ANTHONY R. PUSTORINO                        $9,904                     $147,261 (17)+
Trustee

SALVATORE J. ZIZZA                          $8,342                     $143,962 (25)(diamond)
Trustee

OFFICER:
-------
DAVID I. SCHACHTER                          $140,000                   $140,000 (1)
Vice President


                                       10


------------------
*         Represents  the total  compensation  paid to such  persons  during the
          calendar  year  ended  December  31,  2005  by  investment   companies
          (including  the Trust) or  portfolios  thereof  from which such person
          receives  compensation  that  are  considered  part of the  same  fund
          complex as the Trust because they have common or affiliated investment
          advisers.  The  number in  parentheses  represents  the number of such
          investment companies and portfolios.
**        Mr. Pohl  resigned from the Board of Trustees  effective  November 16,
          2005 and now serves as Trustee Emeritus.
+         Includes  compensation  for serving as a Director  of The  Treasurer's
          Fund, Inc., which was liquidated on October 28, 2005.
(diamond) Includes  compensation  for serving as a Trustee of Ned Davis Research
          Funds, Inc., which was liquidated on February 10, 2006.

REQUIRED VOTE

     The  election  of each of the  listed  Nominees  for  Trustee  of the Trust
requires the  affirmative  vote of the holders of a plurality of the  applicable
class or classes of Shares of the Trust  represented  at the Meeting if a quorum
is present.

     THE BOARD OF TRUSTEES, INCLUDING THE "NON-INTERESTED" TRUSTEES, UNANIMOUSLY
RECOMMENDS THAT THE COMMON AND PREFERRED SHAREHOLDERS VOTE "FOR" THE ELECTION OF
EACH NOMINEE.

                             ADDITIONAL INFORMATION

INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

     PricewaterhouseCoopers,  300 Madison Avenue,  New York, NY 10017,  has been
selected to serve as the Trust's  independent  registered public accounting firm
for the year  ending  December  31,  2006.  PricewaterhouseCoopers  acted as the
Trust's  independent  registered  public  accounting  firm  for the  year  ended
December 31, 2005. The Trust knows of no direct  financial or material  indirect
financial interest of  PricewaterhouseCoopers  in the Trust. A representative of
PricewaterhouseCoopers will not be present at the Meeting, but will be available
by telephone and will have an  opportunity  to make a statement,  if asked,  and
will be available to respond to  appropriate  questions.

     Set forth in the table  below are audit  fees and  non-audit  related  fees
billed to the Trust by PricewaterhouseCoopers for professional services received
during and for the years ended December 31, 2004 and 2005, respectively.

     YEAR ENDED                  AUDIT-RELATED
     DECEMBER 31    AUDIT FEES       FEES*        TAX FEES**    ALL OTHER FEES
     -----------    ----------       ----         --------      --------------
        2004          $35,801      $13,400          $2,550          --
        2005          $35,800      $13,400          $2,880          --

----------------
*    "Audit-Related   Fees"   are   those   fees   billed   to  the   Trust   by
     PricewaterhouseCoopers  in  connection  with the  preparation  of Preferred
     Shares  Reports to Moody's  Investors  Service,  Inc. and Standard & Poor's
     Ratings Services.
**   "Tax Fees" are those fees billed by  PricewaterhouseCoopers  in  connection
     with tax compliance services, including primarily the review of the Trust's
     income tax returns.

     The Trust's  Audit  Committee  Charter  requires  that the Audit  Committee
pre-approve  all audit and non-audit  services to be provided by the independent
registered public accounting firm to the Trust, and all non-audit services to be
provided by the  independent  registered  public  accounting firm to the Trust's
Adviser  and  service  providers  controlling,  controlled  by, or under  common
control with the Trust's Adviser  ("affiliates")  that provide on-going services
to the Trust (a "Covered Services Provider"), if the engagement relates directly
to the operations and financial  reporting of the Trust. The Audit Committee may
delegate  its  responsibility  to  pre-approve  any such  audit and  permissible
non-audit services to the Chairman of the Audit Committee, and the Chairman must
report his decision(s) to the Audit Committee,  at its next regularly  scheduled
meeting after the Chairman's  pre-approval of such services. The Audit Committee
may  also   establish   detailed   pre-approval   policies  and  procedures  for
pre-approval of such services in accordance with applicable laws,  including the
delegation of some or all of the Audit Committee's pre-approval responsibilities
to other persons (other than the Adviser or the Trust's officers).  Pre-approval
by the Audit Committee of any permissible  non-audit services is not required so
long as: (i) the aggregate  amount of all such  permissible  non-audit  services
provided  to  the  Trust,  the  Adviser,   and  any  Covered  Services  Provider
constitutes  not more than 5% of the total amount of revenues  paid by the Trust
to its independent  registered  public  accounting firm during the year in which
the permissible non-audit services are provided; (ii) the per-

                                       11


missible  non-audit services were not recognized by the Trust at the time of the
engagement  to be  non-audit  services;  and (iii) such  services  are  promptly
brought  to the  attention  of the Audit  Committee  and  approved  by the Audit
Committee  or the  Chairman  prior to the  completion  of the audit.  All of the
audit,   audit-related,   and   tax   services   described   above   for   which
PricewaterhouseCoopers  billed the Trust fees for the years ended  December  31,
2004 and December 31, 2005 were pre-approved by the Audit Committee.

     For  the  year  ended   December  31,  2005,   PricewaterhouseCoopers   has
represented to the Trust that it did not provide any non-audit services (or bill
any fees for such  services)  to the  Adviser  or any  affiliates  thereof  that
provide services to the Trust.

THE INVESTMENT  ADVISER AND  ADMINISTRATOR

     Gabelli  Funds,  LLC is the  Trust's  Adviser  and  Administrator  and  its
business address is One Corporate Center, Rye, New York 10580-1422.

COMPLIANCE WITH THE SECURITIES EXCHANGE ACT OF 1934

     Section  16(a) of the 1934 Act and Section  30(h) of the 1940 Act,  and the
rules thereunder, require the Trust's executive officers and Trustees, executive
officers and directors of the Adviser,  certain other affiliated  persons of the
Adviser,  and persons who own more than 10% of a registered class of the Trust's
securities  to file reports of ownership  and changes in ownership  with the SEC
and the New York  Stock  Exchange  and to furnish  the Trust with  copies of all
Section 16(a) forms they file.  Based solely on the Trust's review of the copies
of such  forms it  received  for the year ended  December  31,  2005,  the Trust
believes that during that year such persons  complied  with all such  applicable
filing requirements.

BROKER NON-VOTES AND ABSTENTIONS

     For  purposes  of  determining  the  presence  of a quorum for  transacting
business at the Meeting,  abstentions and broker  "non-votes"  (that is, proxies
from  brokers  or  nominees  indicating  that  such  persons  have not  received
instructions  from the beneficial owner or other persons entitled to vote shares
on a particular matter with respect to which the brokers or nominees do not have
discretionary  power)  will be treated as shares  that are present but that have
not been voted.  Accordingly,  shareholders  are urged to forward  their  voting
instructions promptly.

     The  affirmative  vote of a plurality of votes cast for each Nominee by the
shareholders  entitled to vote for a  particular  Nominee is  necessary  for the
election of a Trustee.  Abstentions  or broker  non-votes will not be counted as
votes  cast and will have no effect on the  result of the vote.  Abstentions  or
broker non-votes,  however,  will be considered to be present at the Meeting for
purposes of determining the existence of a quorum.

     Shareholders  of the Trust will be  informed  of the voting  results of the
Meeting in the Trust's Semi-Annual Report dated June 30, 2006.

                    OTHER MATTERS TO COME BEFORE THE MEETING

     The  Trustees of the Trust do not intend to present  any other  business at
the  Meeting,  nor are they  aware  that any  shareholder  intends to do so. If,
however, any other matters, including adjournments,  are properly brought before
the Meeting,  the persons named in the  accompanying  proxy will vote thereon in
accordance with their judgment.

                             SHAREHOLDER PROPOSALS

     All  proposals  by  shareholders  of the  Trust  which are  intended  to be
presented at the Trust's next Annual Meeting of  Shareholders to be held in 2007
must be received by the Trust for  consideration  for  inclusion  in the Trust's
proxy  statement  and proxy  relating to that meeting no later than December 18,
2006. There are additional requirements regarding proposals of shareholders, and
a shareholder  contemplating  submission of a proposal is referred to Rule 14a-8
under the 1934 Act.

                                       12


     IT IS IMPORTANT THAT PROXIES BE RETURNED PROMPTLY.  SHAREHOLDERS WHO DO NOT
EXPECT TO ATTEND THE MEETING ARE THEREFORE  URGED TO COMPLETE,  SIGN,  DATE, AND
RETURN THE PROXY CARD AS SOON AS POSSIBLE IN THE ENCLOSED POSTAGE-PAID ENVELOPE.

                                       13


                                                                    3555-PS-2006



GABELLI  FUNDS

MR A SAMPLE
DESIGNATION  (IF  ANY)
ADD 1
ADD 2
ADD 3
ADD 4
ADD 5
ADD 6

000000000.000  ext
000000000.000  ext
000000000.000  ext
000000000.000  ext
000000000.000  ext
000000000.000  ext
000000000.000  ext

C  1234567890  J N T

-- Mark box at left if an address  change is noted on this card.
--

--------------------------------------------------------------------------------
ANNUAL MEETING PROXY CARD                                     COMMON SHAREHOLDER
--------------------------------------------------------------------------------
                           THE GABELLI UTILITY TRUST

THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby  appoints Mario J. Gabelli,  James E. McKee and Bruce N.
Alpert,  and each of them,  attorneys and proxies of the undersigned,  with full
powers of substitution and revocation,  to represent the undersigned and to vote
on behalf of the  undersigned  all  shares of The  Gabelli  Utility  Trust  (the
"Trust")  which the  undersigned  is entitled  to vote at the Annual  Meeting of
Shareholders  of the  Trust to be held at The  Cole  Auditorium,  The  Greenwich
Library, 101 West Putnam Avenue, Greenwich, Connecticut 06830 on Monday, May 15,
2006 at 11:00 a.m., and at any  adjournments  thereof.  The  undersigned  hereby
acknowledges  receipt of the Notice of Meeting  and Proxy  Statement  and hereby
instructs said attorneys and proxies to vote said shares as indicated herein. In
their discretion, the proxies are authorized to vote upon such other business as
may  properly  come before the  Meeting.

A majority of the proxies  present and acting at the  Meeting  in  person  or by
substitute  (or, if only one shall be so present,  then  that  one)  shall  have
and may  exercise  all of the  power and authority of  said  proxies  hereunder.
The undersigned  hereby revokes any proxy previously given.

This proxy, if properly executed,  will be voted in the manner directed  by  the
undersigned  shareholder.  If no direction is made, this proxy will be voted FOR
the election of the nominees as Trustees and in  the  discretion  of  the  proxy
holder as to any other  matter that may properly come before the Meeting. Please
refer to the Proxy Statement for a discussion of Proposal No. 1.

--------------------------------------------------------------------------------
PLEASE VOTE, DATE AND SIGN BELOW AND RETURN  PROMPTLY IN THE ENCLOSED  ENVELOPE.
--------------------------------------------------------------------------------

A  ELECTION  OF  TRUSTEES
1. To elect two (2) Trustees of the Trust:

01 - John D.  Gabelli  FOR     WITHHOLD
02 - Anthony R. Pustorino, CPA   FOR    WITHHOLD

COMMENTS                                         --
Mark box at right if comments  are noted below.  --

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

AUTHORIZED  SIGNATURES - SIGN HERE - THIS SECTION MUST BE COMPLETED  FOR YOUR
INSTRUCTIONS TO BE EXECUTED.

Please sign this proxy exactly as your name(s) appear(s) in the records of the
Trust.  If joint  owners,  either may sign.  Trustees  and other  fiduciaries
should  indicate the capacity in which they sign,  and where more than one name
appears,  a  majority  must  sign.  If a  corporation,  this signature  should
be that of an  authorized  officer who should state his or her title.

Signature 1 - Please keep signature within the box
------------------------

------------------------
Signature 2 - Please keep  signature  within the box
------------------------

------------------------
Date  (mm/dd/yyyy)
------------------------
  /     /
------------------------


0 0 8 4 6 3 1    1 U P X  COY +



GABELLI  FUNDS

MR A SAMPLE
DESIGNATION  (IF  ANY)
ADD 1
ADD 2
ADD 3
ADD 4
ADD 5
ADD 6

000000000.000  ext
000000000.000  ext
000000000.000  ext
000000000.000  ext
000000000.000  ext
000000000.000  ext
000000000.000  ext

C  1234567890  J N T

--  Mark box at left if an address  change is noted on this  card.
--

--------------------------------------------------------------------------------
ANNUAL MEETING PROXY CARD                                     SERIES A PREFERRED
--------------------------------------------------------------------------------
                            THE GABELLI UTILITY TRUST

THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby  appoints Mario J. Gabelli,  James E. McKee and Bruce N.
Alpert,  and each of them,  attorneys and proxies of the undersigned,  with full
powers of substitution and revocation,  to represent the undersigned and to vote
on behalf of the  undersigned  all  shares of The  Gabelli  Utility  Trust  (the
"Trust")  which the  undersigned  is entitled  to vote at the Annual  Meeting of
Shareholders  of the  Trust to be held at The  Cole  Auditorium,  The  Greenwich
Library, 101 West Putnam Avenue, Greenwich, Connecticut 06830 on Monday, May 15,
2006 at 11:00 a.m., and at any  adjournments  thereof.  The  undersigned  hereby
acknowledges  receipt of the Notice of Meeting  and Proxy  Statement  and hereby
instructs said attorneys and proxies to vote said shares as indicated herein. In
their discretion, the proxies are authorized to vote upon such other business as
may  properly  come before the  Meeting.

A majority of the proxies  present and acting at the  Meeting in  person  or  by
substitute  (or, if only one shall be so present,  then  that  one)  shall  have
and may  exercise  all of the  power and authority of  said  proxies  hereunder.
The undersigned  hereby revokes any  proxy  previously  given.

This  proxy,  if properly executed,  will be  voted in the  manner  directed  by
the  undersigned shareholder.  If no direction is made, this proxy will be voted
FOR the election of the nominees as Trustees and  in the discretion of the proxy
holder as to any other  matter that may properly come before the Meeting. Please
refer  to  the Proxy Statement for a discussion of Proposal No. 1.

--------------------------------------------------------------------------------
PLEASE VOTE, DATE AND SIGN BELOW AND RETURN  PROMPTLY IN THE ENCLOSED  ENVELOPE.
--------------------------------------------------------------------------------

A  ELECTION  OF  TRUSTEES
1. To elect  three (3) Trustees of the Trust:

01 - James P. Conn    FOR    WITHHOLD
02 - John D. Gabelli  FOR    WITHHOLD
03 - Anthony R. Pustorino, CPA   FOR    WITHHOLD

COMMENTS                                        --
Mark box at right if comments  are noted below. --

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B  AUTHORIZED  SIGNATURES - SIGN HERE - THIS SECTION MUST BE COMPLETED  FOR YOUR
INSTRUCTIONS TO BE EXECUTED.

Please sign this proxy exactly as your name(s) appear(s) in the records of the
Trust.  If joint  owners,  either may sign.  Trustees  and other  fiduciaries
should  indicate the capacity in which they sign,  and where more than one name
appears,  a  majority  must  sign.  If a  corporation,  this signature  should
be that of an  authorized  officer who should state his or her title.

Signature 1 - Please keep signature within the box
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Signature 2 - Please keep  signature  within the box
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Date  (mm/dd/yyyy)
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   /     /
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0 0 8 4 6 3 2   1 U P X    COY   +



GABELLI FUNDS

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ANNUAL MEETING PROXY CARD                                     SERIES B PREFERRED
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                           THE GABELLI UTILITY TRUST

THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby  appoints Mario J. Gabelli,  James E. McKee and Bruce N.
Alpert,  and each of them,  attorneys and proxies of the undersigned,  with full
powers of substitution and revocation,  to represent the undersigned and to vote
on behalf of the  undersigned  all  shares of The  Gabelli  Utility  Trust  (the
"Trust")  which the  undersigned  is entitled  to vote at the Annual  Meeting of
Shareholders  of the  Trust to be held at The  Cole  Auditorium,  The  Greenwich
Library, 101 West Putnam Avenue, Greenwich, Connecticut 06830 on Monday, May 15,
2006 at 11:00 a.m., and at any  adjournments  thereof.  The  undersigned  hereby
acknowledges  receipt of the Notice of Meeting  and Proxy  Statement  and hereby
instructs said attorneys and proxies to vote said shares as indicated herein. In
their discretion, the proxies are authorized to vote upon such other business as
may properly come before the Meeting.

A majority  of the  proxies  present  and acting at the  Meeting in person or by
substitute  (or, if only one shall be so present,  then that one) shall have and
may exercise  all of the power and  authority  of said  proxies  hereunder.  The
undersigned hereby revokes any proxy previously given.

This proxy,  if properly  executed,  will be voted in the manner directed by the
undersigned  shareholder.  If no direction is made, this proxy will be voted FOR
the  election of the  nominees as Trustees  and in the  discretion  of the proxy
holder as to any other matter that may properly come before the Meeting.  Please
refer to the Proxy Statement for a discussion of Proposal No. 1.

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PLEASE VOTE, DATE AND SIGN BELOW AND RETURN PROMPTLY IN THE ENCLOSED ENVELOPE.
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A  ELECTION OF TRUSTEES

To elect three (3) Trustees of the Trust:
01 - James P. Conn    FOR   WITHHOLD
02 - John D. Gabelli  FOR   WITHHOLD
03 - Anthony R. Pustorino, CPA   FOR   WITHHOLD

COMMENTS                                        --
Mark box at right if comments are noted below.  --

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

B  AUTHORIZED SIGNATURES - SIGN HERE - THIS SECTION MUST BE COMPLETED FOR YOUR
INSTRUCTIONS TO BE EXECUTED.

Please sign this proxy  exactly as your name(s)  appear(s) in the records of the
Trust. If joint owners,  either may sign.  Trustees and other fiduciaries should
indicate the capacity in which they sign,  and where more than one name appears,
a majority  must sign. If a  corporation,  this  signature  should be that of an
authorized officer who should state his or her title.

Signature 1 - Please  keep  signature  within the box
---------------------------

---------------------------
Signature 2 - Please keep signature within the box
---------------------------

---------------------------
Date (mm/dd/yyyy)
---------------------------
   /     /
---------------------------



0 0 8 4 6 3 3    1 U P X   COY  +