Preheat the oven to 350 degrees. Place the sliced peaches in the bottom of an 8- by 8- by 2-inch baking pan.

In a small mixing bowl, combine the graham cracker crumbs, cinnamon, and nutmeg; mix well. Gradually blend in margarine and sprinkle mixture over peaches.

Bake uncovered for 25 to 30 minutes. Remove from oven and let cool slightly before serving.

This recipe yields 4 servings. Serving size: 1/2 cup.

Exchanges Per Serving: 1 Fruit.

Nutrition Facts: Calories 74; Calories from Fat 15; Total Fat 2g; Saturated Fat 0g; Cholesterol 0mg; Sodium 57mg; Carbohydrate 15g; Dietary Fiber 2g; Sugars 9g; Protein 1g.