1Spray rectangular baking dish, 13x9x2 inches, with cooking spray. Spread one side of each bread slice with pesto. Arrange bread, pesto sides up, in bottom of baking dish, cutting slices to fit if necessary. Sprinkle with olives, bell peppers and mozzarella cheese.
2Beat eggs, milk, salt and pepper until well blended. Pour evenly over cheese in dish. Sprinkle with Parmesan cheese. Cover and refrigerate at least 2 hours but not longer than 24 hours.
3Heat oven to 325ºF. Bake uncovered 55 to 60 minutes or until knife inserted in center comes out clean and top is golden brown. Let stand 5 minutes before cutting.