Combine first 5 ingredients;
beat 2 min. at high speed of an electric mixer.
Pour batter into 2 greased and
floured 9" round cake pans.

Bake at 350F for 25-30 min. or
until a wooden pick inserted in center
comes out clean. Cool in pans 10 min.;
remove from pans, and cool completely on wire racks.

Combine sugar and cornstarch in a saucepan;
stir in apricot nectar.
Bring mixture to a boil, stirring constantly;
boil 1 minute. Cool slightly;
stir in rum and oranges.
Cool completely.
Brush sauce on top and sides of cooled cake layers.
Repeat until all sauce is used.

Beat whipping cream until foamy;
gradually add powdered sugar,
beating until soft peaks form.
Place 1 cake layer on cake platter;
spread with half of whipped cream,
and top with half of oranges.
Repeat procedure with remaining ingredients.
Chill at least 2 hours before serving.
Store in refrigerator.
Yield: one 2-layer cake.