Caramel Cereal Bars

20 caramels
1 tablespoon water
4 cups Post Golden Crisp Cereal
2 cups popped popcorn
1/2 cup peanuts, -- (optional)

Butter a 9X13 inch baking pan.
Melt caramels and water in a small heavy saucepan on low heat, stirring frequently til smooth.
Pour over cereal, popcorn and peanuts in a large bowl.
Mix well.
Press firmly into prepared pan.
Refrigerate one hour and cut into bars.

Microwave preparation:
Microwave caramels and water in microwavable bowl on high for 2-3 min, or til caramels are melted, stirring every minute.
Continue as directed above.