In a one quart saucepan, heat milk almost to the boiling point. Add sugar and salt. Cool to lukewarm. In a mixing bowl, dissolve yeast in warm water. Add milk mixture, margarine, egg, and three cups flour. Mix until smooth. By hand, stir in remaining flour until well blended. Cover and refrigerate several hours or overnight. Dough will be very sticky. Add enough extra flour to make a soft dough. Then, punch down dough and divide into thirds. Roll each third into a twelve inch circle. Cut each circle into sixteen pie-shaped wedges. Roll each wedge into a crescent shape. Place on prepared baking sheets. Cover and let rise in warm place until doubled in size. Bake in a 375 degree oven for 15 minutes, or until golden brown.