1/3 cup butter or margarine
1/4 cup granulated sugar
1/4 teaspoon almond extract
2 (16 ounce) loaves frozen bread, thawed
1/4 cup sliced almonds
1 1/2 cups sifted confectioners sugar
3 tablespoons milk
1/4 teaspoon almond extract

Combine first 3 ingredients in a small saucepan; cook over medium heat until butter melts. Remove from heat, and let cool.

Cut each bread loaf crosswise into 4 pieces; roll each piece to an 18-inch strip on a lightly floured surface. While twisting dough several times, coil 1 strip in center of a lightly greased 12-inch pizza pan. Attach second strip to end of first; twist and coil. Repeat procedure with remaining dough. Spoon butter mixture over top. Let rise in a warm place (85 degrees F) free from drafts for 30 minutes or until dough is doubled in bulk.

Bake at 350 degrees F for 15 minutes; sprinkle with almonds. Shield roll with aluminum foil to prevent overbrowning, and bake an additional 15 minutes.

Let coffee cake cool for 10 minutes.

Combine confectioners' sugar, milk and almond extract; stir until smooth. Drizzle glaze over coffee cake.

Makes one 12-inch coffee cake.