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Lightly beat the egg in a shallow bowl along with the milk. Season with salt and black pepper.
Dip each slice of bread into the egg mixture, making sure it has soaked up all of the liquid. Heat a frying pan over a medium heat and add the butter. Swirl the butter around the pan and when it's beginning to foam, add the bread and fry on each side for 1 min or until golden brown. Transfer to a plate and serve with crispy bacon or fruit compote.