Cut the corn from the cob and simmer gently in sufficient milk to cover.
When they are nearly soft, add the lima beans and cook until the vegetables are soft.
Add butter, seasoning and sliced olives and simmer for a further 5 minutes.
Thicken the sauce with a little cornflour mixed with cold milk if it is too thin.
Cooked corn from the cob may be used, in which case simmer in milk to soften only.