Preheat oven to 350Â°F.
In mixing bowl combine sugar, margarine, and vanilla and mix until creamy; add egg and beat well.
Blend in sifted flour, then fold in cereal until just combined [do not overmix or beat).
Onto nonstick cookie sheet drop batter by heaping teaspoonsful, forming 12 cookies and leaving a space of about 2 inches between each; using moistened tines of a fork, flatten each cookie slightly.
Bake until cookies are golden brown, 8 to 10 minutes.
Using a spatula, remove cookies to wire rack to cool.