ROLL out dough into 12 x 10-inch rectangle on lightly floured surface. Spread pesto over dough, leaving 1/2-inch border around edges. Sprinkle with cheese and olives. Start at long end of dough and roll into 12-inch-long cylinder; pinch dough to seal. Cut into twelve 1-inch slices and place on ungreased baking sheet.
COVER with damp cloth and set in warm place for about 45 to 60 minutes or until double in size. Brush tops of rolls with beaten egg.
PREHEAT oven to 350° F.
BAKE for 20 to 25 minutes or until light golden brown and rolls sound hollow when tapped.