Reduced fat and carbohydrate milk product and process for manufacturing such milk product

A process for manufacturing a milk product, comprising the steps of:

• providing ultra filtered skim milk;
• adding water and a fat source to said ultra filtered raw skim milk to obtain a first combination of ultra filtered skim milk, water and a fat source;
• and
• adding a source of protein to said first combination to form a second combination,
• wherein said first combination comprises a composition of non-fat milk solids of about 5.65% by weight, total solids in a range of about 8.9% to about 10.5% by weight, and butterfat in an amount less than about 3.3% by weight, and further wherein said steps result in a milk product comprising a drinkable beverage having organoleptic qualities similar to those of reduced or low fat milk.