Microwave Potatoes according to package instructions.
Meanwhile, preheat oil in a 3 qt. heavy saucepan over medium high heat to 375 degrees.
In a large bowl, mix together hot Potatoes, milk and butter, and mash with a potato masher until smooth. For a smoother consistency, mix with an electric mixer to desired consistency. Stir in cheddar cheese, Romano cheese, flour and egg, and mix well.
Drop 2 tablespoons of batter into hot oil for each and fry for 1-1/2 to 3 minutes, or until golden brown. Fry 6 to 8 at a time to avoid overcrowding the oil. Drain on paper towels. Garnish with grated Romano or parmesan cheese.