Preheat over to 350 degrees. Grease the bottom and 1/2 inch up sides of 8x4x2 inch loaf pan, set aside. In a large bowl stir together flour, sugar, baking powder, and salt. Make a well in the center of four mixture, set aside. In a medium bowl beat egg, stir in milk and oil. Add egg mixture all at once to flour mixture. Stir just until moistened(batter should be lumpy). Fold in nuts. Spoon batter into prepared pan, spread evenly. Bake for 50-55 minutes or until toothpick inserted near center comes out clean. Cool in pan on a wire rack for 10 minutes. Remove from pan. Cool on wire rack. Preheat oven to 370 degrees. Cut bread int 3/4 inch thick slices. Arrange slices in a single layer on a baking sheet. Bake about 20 minutes or until brown on both sides, turning once. If desired serve warm with cheese.