1 (14 oz.) can Eagle Brand sweetened condensed milk
1 1/2 c. cold water
1 (3 1/2 oz.) pkg. instant vanilla pudding mix
2 c. whipping cream, whipped
1 (12 oz.) prepared loaf pound cake, cut into cubes
1 qt. fresh strawberries, sliced
1/2 c. strawberry preserves
Additional strawberries

In large mixing bowl, combine condensed milk and water. Add pudding mix; beat well. Chill 5 minutes. Fold in whipped cream. Spoon 2 cups pudding into 4- quart glass serving bowl; top with half each of the cake cubes, strawberries, preserves and pudding. Repeat layering, ending with pudding. Garnish with additional strawberries. Chill 4 hours or until set. Refrigerate leftovers.