Preheat oven to 180°c/160°c fan forced. grease a medium shallow ovenproof dish.
Spread one side of bread slices with butter; place buttered side up in prepared dish, sprinkle with sultanas.
Combine NESTLÉ sweetened condensed milk, eggs, cream and vanilla in a medium bowl; whisk well. pour over bread. bake for 40 minutes or until just set. serve dusted with icing sugar, if desired.