MIX graham crumbs, margarine and 1/4 cup sugar until blended; press onto bottom of 13x9-inch pan. Refrigerate until ready to use.
BEAT Neufchatel and remaining sugar in large bowl with mixer until blended. Add dry gelatin mix; mix well. Stir in COOL WHIP and peaches. Spoon into crust.
REFRIGERATE 4 hours or until firm.