Place milk, egg, butter, sugar, salt, flour and yeast in bread machine pan. Make sure you add yeast last. Set bread machine on Dough cycle and begin.
In a medium sauce pan, melt 1/3 cup butter over medium-low heat. Stir in 1/2 cup brown sugar, 2 tablespoons milk and 1 cup walnuts. Stir constantly until well blended. Pour this sauce in a 9x13 inch pan; set aside.
After the cycle is complete, put the dough on a lightly floured board, and roll the dough into a rectangle about 10x15. Brush the dough with melted butter and sprinkle with brown sugar, cinnamon, nuts and raisins.
Roll the dough up tightly like a jelly roll, starting with the long side. Press the edges to seal. With a knife, or preferably a long piece of dental floss, cut the roll into one inch pieces. Place the pieces in the prepared pan on top of the caramel sauce.
Cover with a damp cloth and let rise in a warm place until double in size, about 1 1/2 to 2 hours. Preheat oven to 350 degrees F (175 degrees C).
Bake in preheated oven for 15 to 20 minutes, until brown. Remove from oven and immediately turn upside down onto a platter.
