Ingredients:

  Amount  Measure       Ingredient -- Preparation Method
--------  ------------  --------------------------------
   3      tablespoons   margarine
   1      large         egg
  24      ounces        cream cheese -- softened
   3      tablespoons   unbleached all-purpose flour
  16      ounces        canned peach halves *
     1/3  cup           sugar
     3/4  cup           unbleached all-purpose flour
     3/4  cup           sugar
   3      large         eggs
     1/4  cup           almond flavored liqueur

Preparation:

* Peach halves should be drained, and then pureed. Combine margarine and sugar until light and fluffy. Blend in egg. Add flour; mix well. Spread dough onto bottom of 9-inch spring form pan. Bake at 450F., 10 minutes. Combine cream cheese, sugar and flour; mixing at medium speed on electric mixer until well blended. Add eggs, one at a time, mixing well after each addition. Add peaches and liqueur; mix well. Pour over crust. Bake at 450F., 10 minutes. Reduce oven temperature to 250F; continue baking 65 minutes. Loosen cake from rim of pan; cool before removing rim of pan. Chill. Garnish with additional peach slices and sliced almonds, if desired.