We measured the Fermi surface (FS), band dispersion and superconducting gap in LuNi2B2C using Angle Resolved Photoemission Spectroscopy. Experimental data were compared with the tight-binding version of the Linear Muffin-Tin Orbital (LMTO) method and Linearized Augmented Plane-Wave (LAPW) calculations. We found reasonable agreement between the two calculations and experimental data. The measured FS exhibits large parallel regions with a nesting vector that agrees with a previous positron annihilation study and calculations of the generalized susceptibility. The measured dispersion curves also agree reasonably well with the TB-LMTO calculations, albeit with some differences in the strength of the hybridization. In addition, the spectrum in the superconducting state revealed a 2meV superconducting gap. The data also clearly shows the presence of a coherent peak above the chemical potential, that originates from thermally excited electrons above the energy of 2 delta. This feature was not previously observed in the Lu-based material.