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Heat oil in large skillet on medium-high heat. Add beef, onion and bell pepper; cook and stir 5 minutes or until beef no longer pink.
Stir in Sauce Mix, water, tomato paste and paprika until well blended.
Bring to boil. Cover. Reduce heat and simmer 10 minutes, stirring occasionally. Remove from heat. Stir in sour cream. Sprinkle with McCormick® Parsley Flakes, if desired. Serve over noodles or rice.