1 cup evaporated milk
4 (1 ounce) squares white baking chocolate, chopped
1 cup butter (NO SUBSTITUTE), softened
1 2/3 cups granulated sugar
5 eggs
2 3/4 cups all-purpose flour
1/2 teaspoon baking soda
1/2 teaspoon salt

Preheat oven to 325 degrees F. Grease and flour a 10-inch fluted tube pan.

In a heavy saucepan, combine evaporated milk and chocolate. Cook and stir over low heat until chocolate is melted. Cool to room temperature.

In a mixing bowl, cream butter and sugar. Add eggs, one at a time, beating well after each addition.

Combine the flour, baking soda and salt; add to the creamed mixture alternately with chocolate mixture. Beat just until combined. Pour into prepared baking pan. Bake for 1 hour or until a wooden pick inserted near the center comes out clean.

Cool for 10 minutes before removing from pan to a wire rack; cool completely, then ice.

Icing
3 (1 ounce) squares white baking chocolate, chopped
1/4 cup butter (NO SUBSTITUTE)
2 cups confectioners' sugar
1/2 teaspoon vanilla extract
1 to 2 tablespoons milk

In a heavy saucepan, melt chocolate and butter over low heat until blended and smooth, stirring often. Remove from the heat. Stir in the confectioners' sugar, vanilla extract and enough milk to reach desired consistency. Drizzle over cake.

Yields 12 servings.