12 oz. (42) caramels
1 c. salted peanuts
2 tbsp. water
8 c. corn flakes (18 oz. box)

Place caramels and water in 1-quart ovenware casserole or large measuring cup. Turn selector control to bake. Cook for 6 minutes or until most caramels are melted. Stir until caramels are melted and mixture is smooth. Stir in peanuts. Pour caramel peanut mixture over corn flakes and mix until well coated. Press mixture into buttered 9x13x2 inch pan or spread onto waxed paper. Cool. Cut into squares.