1 lg. box Rice Chex
1 lb. powdered sugar
1/2 c. butter
1 c. peanut butter
12 oz. chocolate chips

Pour cereal into large roaster pan. Melt butter, chips and peanut butter in saucepan. Stir well. With hands lightly mix cereal and chocolate mixture until well coated. (Mixture will be stuck together and messy.) Pour powdered sugar into large plastic bag. Add cereal by handfuls until well coated.