Smothered Beef and Peppers

2 tablespoons vegetable oil
1/2 pound sliced fresh mushrooms
2 bell peppers (1 red, 1 green), cut into thin strips
2 onions, sliced
1 (2 pound) beef round steak, cut into thin strips
1 teaspoon salt
1 teaspoon black pepper
1 (10 3/4 ounce) can condensed cream of mushroom soup
3/4 cup dry red wine or beef broth
2/3 cup water
1 1/2 teaspoons browning and seasoning sauce

In a large skillet, heat the oil over medium-high heat until hot. Add the mushrooms, bell peppers, and onions, and saut for 4 to 5 minutes, or until tender. Remove the vegetables to a bowl, reserving the drippings in the skillet.

Season the steak with the salt and black pepper, and brown in the skillet over medium-high heat.

In a medium bowl, combine the soup, wine, and water; mix well and pour over the browned steak. Reduce the heat to low, cover, and simmer for 45 minutes.

Stir the vegetables and the browning and seasoning sauce into the steak mixture; cook uncovered for 8 to 10 minutes, or until the sauce is thickened.

Serve over rice.