1 pkg. (6 oz.) semi-sweet chocolate morsels
1/4 c. vegetable oil
1/4 c. creamy peanut butter
6 c. Kellogg's Crispix cereal
2 c. confectioners' sugar

In small bowl, combine morsels and oil. Microwave on High 1 1/2 minutes or until chocolate melts. Stir in peanut butter. Pour mixture over cereal and stir gently.

Place confectioners' sugar into gallon-size storage bag. Add coated cereal and close bag tightly. Shake bag gently until cereal is thoroughly coated with sugar. Refrigerate in airtight container.