1 (14 oz.) bag Kraft caramels
2 tbsp. butter
2 tbsp. cold water
8 c. crisp rice cereal

Microwave caramels, butter, and water in 1 quart glass bowl on high 2 1/2 to 3 1/2 minutes or until smooth, stirring every minute. Pour over cereal; toss until well coated. Press into greased 13 x 9 inch baking pan. Let stand until firm.

3 dozen. Preparation time: 10 minutes. Microwave time: 3 1/2 minutes.

Conventional: Melt caramels with butter and water in heavy saucepan over low heat, stirring until smooth. Continue as directed.