1 c. cooked rice
1/4 c. milk
1 (8 oz.) can sweetened condensed milk
1/4 c. sugar

Place the cooked rice and milk in a small saucepan and warm over low heat. In a small skillet caramelize the sugar by heating it over low heat while stirring constantly until it is golden brown. Pour the caramel over the rice and mix well. Serve warm.

RICE:

3 1/2 c. water
1 1/2 c. long grain rice
1 tsp. salt
1 tbsp. unsalted butter

Bring the water to a boil in a saucepan over medium heat. Stir in the rice, salt and butter. Cover, reduce heat to low and simmer for about 20 minutes. Remove the saucepan from the heat and allow it to stand for 5 minutes or until the remaining water has been absorbed. Fluff with a fork.