Ingredients

1 cup (6 oz.) semi-sweet chocolate chips

14 oz. can sweetened condensed milk

2 tablespoons butter or margarine (good with either)

2 tablespoons water

1 teaspoon vanilla extract

Preparation

In medium-sized heavy saucepan, over medium heat, melt chips with sweetened condensed milk, butter and water. Beat smooth with wire whisk if necessary. Stir in vanilla. Serve warm over ice cream or as fruit dipping sauce. Store leftovers covered in refrigerator; reheat to serve. To Reheat: In small heavy saucepan, combine desired amount of sauce with small amount of water. Over low heat, stir constantly until heated through.

To Microwave: In 1 quart glass measure, combine ingredients. Cook on 100% power (high) 3 to 3½ minutes, stirring after each minute. Proceed as above.