Cook rice according to package directions, adding bouillon cube instead of the salt and butter called for in the directions.
While rice is cooking, melt margarine in a large skillet.
Stir in onion, celery, mushrooms and water chestnuts.
Cook over medium heat, stirring occasionally, until celery is almost tender.
Gently stir in the cooked rice, cereal, sage, basil, pepper and water.
Cover and cook over very low heat about 15 minutes.