MIX flour, sugar, baking powder and salt in large bowl. Beat egg in small bowl with wire whisk. Add milk, orange juice, orange peel and oil; mix well. Add to flour mixture; stir just until moistened. (Batter will be lumpy.) Stir in cereal and raisins.
POUR into 9x5-inch loaf pan sprayed with cooking spray.
BAKE at 350°F for 55 to 60 minutes or until toothpick inserted in center comes out clean. Cool 10 minutes; remove from pan. Cool completely on wire rack.