2.  Combine flour and cocoa powder and set aside.  In a large bowl, cream sugar and butter until light and fluffy.  Add eggs, one at a time, beating well after each addition.  Gradually add cofectioners' sugar and mix thoroughly.  Stir in nuts.  (Batter will be thick.)  Spoon batter into prepared pan.

3.  Bake 45 to 50 minutes or until the top is set and the edges begin to pull away from sides of pan.  Cool upright in pan on wire rack for 1 1/2 hours to allow fudge to set.  Invert onto serving plate to cool thoroughly.

4.  To prepare glaze, combine confectioners sugar and cocoa.  Add 2 tablespoons milk.  Mix thorougly, adding only enough milk to create a smooth but pourable glaze. Spoon glaze over top of cake, allowing some to run doun sides.