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

In sauce pan combine butterscotch chips and peanut butter. Heat until smooth. Add to rice cereal. Stir until well coated with butterscotch mixture. Press half of this into 9 x 13 inch pan. Chill in refrigerator while preparing fudge mixture. Combine chocolate chips, powdered sugar, butter and water in sauce pan. Heat and stir until mixture is melted. Spread over refrigerated cereal mixture. Spread remaining cereal mixture over top. Press gently. Chill until firm.