In large bowl, combine flour, sugar, salt, baking powder & baking soda.
In small bowl, beat together egg, water & oil; stir into dry ingredients just until moistened.
Pour into pan. Spoon preserves over batter; cut through batter with a knife to swirl.
Bake for 65-70 minutes until toothpick inserted near center comes out clean. Cool 10 minutes; remove from pan to a wire rack.