1/2 cup margarine, softened
1 cup all-purpose flour
2 tablespoons water
8 oz. package cream cheese, softened
1/4 cup sugar
1 egg yolk
1/2 cup margarine
1 cup water
1 teaspoon almond extract 
1 cup all-purpose flour
3 eggs 
Glaze (recipe follows)

Heat oven to 350 degrees.  Cut 1/2 cup margarine into 1 cup flour.
Sprinkle 2 tablespoons water over flour mixture.  Mix with fork.
Shape into roll with floured hands.  Pat and shape into wreath 
shape, 11-1/2" in diameter with 4" wide side and 3-1/2" hole in 
center on ungerased cookie sheet

Beat cream cheese, sugar and egg yolk in small bowl until light 
and fluffy, about 3 minutes.  Spread evenly over wreath, up to 
1/4 inch in from edges.  Heat 1/2 cup margarine and 1 cup water 
to rolling boil in 2 quart saucepan.  Remove from heat.  Quickly
stir in almond extract and 1 cup flour.  Stir vigorously over low
heat until mixture forms a ball, about 1 minute.  Remove from 
heat.  Add eggs, beat until smooth and glossy.  Spread evenly over
cream cheese mixture.  Bake until topping is crisp and light brown
(about 40-45 minutes).  Cool.  (Topping will shrink and fall.)
Drizzle with Glaze.

Glaze:

Mix 1-1/2 cups powdered sugar, 1-1/2 teaspoons vanilla and 1-2
tablespoons hot water until smooth and of desired consistency.