Preheat the oven to 325°F. Butter and lightly flour a baking pan.

In a large bowl, using an electric mixer, cream the butter until smooth. Add the sugars and beat until fluffy, about 4 minutes.

Add the eggs and beat well, then add the Milo, milk and vanilla.

Mix the flour, baking soda, baking powder and salt together. Add them to your wet ingredients.

Stir together with a spoon until blended. Scrape down the batter in the bowl, making sure the ingredients are mixed.

Pour the batter into the prepared baking pan. Bake for 55 to 60 minutes, or until a tooth pick inserted into the center of the cake comes out clean. Cool in pan on a rack for about 10 minutes and serve.