Abstract: A louver assembly that includes a rectangular frame. Vertically spaced louver blades span side members of the frame. A gutter member overlies the louver blades and underlies an upper member of the frame. The gutter member includes an outer wall panel having an upper edge terminating beneath an outer face of the upper member to define a transverse water inlet opening receiving rain water from the upper member and from a wall thereabove. Downspout means in one of the side frames receives water from the gutter member. Water from the louver blades is also received in one of the side frames but the water from the gutter member is isolated from the louver blades.