1 (6 oz.) pkg. butterscotch chips
1/2 c. peanut butter
4 c. Rice Krispies
1 tbsp. water
1 (6 oz.) pkg. chocolate chips
1/2 c. sifted powdered sugar
2 tbsp. butter

Melt butterscotch chips and peanut butter over very low heat, stirring constantly until well blended. Remove from heat; add Rice Krispies and stir until well blended. Press half of this mixture into a buttered 8 x 8 inch pan. Chill in refrigerator while preparing fudge mixture.

Combine chocolate chips, sugar, butter and water. Stir over hot water until blended. Spread over chilled cereal mixture. Spread remaining cereal mixture over fudge mixture. Chill. Cut into squares.