1. In a small bowl, dissolve yeast in warm water. Let stand until creamy, about 10 minutes.
2. In a large bowl, combine flour, sugar, and salt. Stir in yeast mixture, melted butter, warm milk, and beaten egg. Mix until dough pulls away from the sides of the bowl.
3. Turn dough onto a lightly floured surface and knead until smooth and elastic, about 8 minutes. Place dough in a lightly oiled bowl, cover with a damp cloth, and let rise in a warm place until doubled in volume, about 1 hour.
4. Preheat oven to 375°F (190°C). Punch down dough and divide into 2 equal pieces. Roll each piece into a 12-inch circle, then cut each circle into 8 wedges.
5. Roll up each wedge, starting from the wide end, to form crescent shapes. Place rolls on a greased baking sheet, point side down. Cover and let rise until doubled, about 30 minutes.
6. Bake in preheated oven for 12-15 minutes, or until golden brown. Serve warm.