Quick and Easy Chocolate Frosting

1/3 cup butter or margarine
3 (1 ounce) squares of unsweetened chocolate
3 cups powdered sugar
1/3 cup milk
1 teaspoon vanilla

1. Heat butter and chocolate over low heat until melted.
2. Remove from heat and stir in the powdered sugar, milk and vanilla. Beat until smooth.
3. Place in a bowl of ice water then beat until it starts to mound.
4. Remove from ice water and beat on high until it reaches spreading consistency.