1 (14 oz.) can Eagle brand sweetened condensed milk
2 (1 oz.) sqs. semi sweet or unsweetened chocolate
Dash of salt
3 tbsp. water
1 tsp. vanilla extract

In heavy saucepan, combine sweetened condensed milk, chocolate and salt. Over medium heat cook and stir rapidly until chocolate melts and mixture thickens about 8 minutes. Remove from heat. Stir in water and vanilla. Cook and stir rapidly until thickened again about 4 minutes.

Cool 10 minutes. Use to frost 1 (8 or 9 inch) 2 layer or 1 (13 x 9 inch) cake or 2 dozen cupcakes. Store at room temperature.