Combine cereal, sugar, salt and butter in a medium bowl. Add boiling water; stir until butter is melted. Set aside to cool to lukewarm.
Pour warm water into a large, warm mixing bowl. Sprinkle in yeast; stir until softened. Add lukewarm cereal mixture, egg and enough flour to make a stiff dough.
Turn dough out onto a lightly floured surface; knead until smooth and elastic, about 8 to 10 minutes. Place in a greased bowl, turning once to grease top. Cover; let rise in a warm, draft free place until doubled, about 1 hour.
Punch dough down; divide in half. Divide each half into 12 equal pieces. Form each piece into a smooth round ball. Place in greased (2-1/2 x 1-1/2 inch) muffin pans OR in 2 greased 8-inch round cake pans. Brush rolls with 2 tablespoons melted butter. Cover; let rise in a warm, draft free place until doubled, about 1 hour.
Bake in a preheated 375°F oven for 20 to 25 minutes, or until done. Remove from pans and cool on wire racks. Serve warm.