1 (12 oz.) pkg. butterscotch chips
1 c. peanut butter
8 c. Rice Krispies
2 tbsp. water
1 (12 oz.) pkg. chocolate chips
4 tbsp. soft butter
1 c. powdered sugar

Melt butterscotch chips with peanut butter. Stir until well blended. Add Rice Krispies, stirring until well coated with butterscotch mixture. Press half of mixture into buttered 9 x 13 inch pan.

Chill while preparing fudge mixture. Set remaining cereal mixture aside. Combine chocolate chips, powdered sugar, butter and water. Melt in microwave until chocolate melts. Stir until well blended. Spread over chilled cereal mixture. Spread remaining cereal mixture over the top. Press in gently. Chill. Cut in squares.