Shake chicken with flour in paper bag to coat well.
Brown, a few pieces at a time, in salad oil in large frying pan; drain on paper toweling.
Place rice in a 10-cup shallow baking dish; arrange browned chicken on top.
Stir water into chicken drippings in frying pan; blend in Spanish rice seasoning mix; heat to boiling.
Pour over chicken and rice; cover.
Bake in moderate oven (350Â°) 30 minutes; uncover and lay green pepper rings and sliced olives on top.
Cover and bake 30 minutes longer, or until chicken and rice are tender, and liquid is absorbed.