Preheat oven to 350°F. Beat butter and brown sugar in large bowl with electric mixer on medium speed until light and fluffy. Add egg and orange peel; beat until well blended. Add flour and baking powder; mix well. Gently stir in cereal.
Drop level tablespoonfuls of dough, 2 inches apart, onto ungreased baking sheets.
Bake 10 to 12 min. or until lightly browned. Cool on baking sheet 2 min. before removing to wire racks to cool completely. Store in tightly covered container at room temperature.