Champagne Mushroom Risotto

3 tb Butter or margarine

1 c Converted rice

2/3 c Onion; chopped

1 3/4 c Water

3/4 c Champagne or dry white wine

1 cn Cream of mushroom soup

1/4 ts Fresh ground pepper

1/8 ts Ground nutmeg

1/8 ts Ground red pepper(optional)

1 c Red bell pepper; julienne

Fresh parsley; finely chop Parmesan cheese (optional) Melt butter in medium saucepan. Add rice and onion. Cook over medium heat, stirring frequently, 3-4 minutes or until onion is tender. Add water and champagne. Bring to a boil. Reduce heat, cover and simmer 20 minutes. Stir in cream of mushroom soup, pepper, nutmeg, and, if desired, ground red pepper. Cook and stir 5 minutes, or until creamy and heated through. Stir in red bell pepper and parsley. Sprinkle with cheese, if desired.