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HEAT oven to 400°F.
BEAT cream cheese, 1/4 cup sugar, egg yolk and vanilla with whisk until blended. Mix remaining sugar and cinnamon in separate bowl.
FLATTEN bread slices with rolling pin to 1/8-inch thickness. Spread each with 1 rounded Tbsp. cream cheese mixture; roll up tightly, starting at one short side. Brush with butter; roll in cinnamon sugar. Cut each roll into 3 pieces; place, seam sides down, on baking sheet.
BAKE 12 to 15 min. or until edges are lightly browned.