Combine first 5 ingredients in a saucepan; heat until margarine melts. Cool to 105° to 115°. Add yeast to warm milk mixture; let stand 5 minutes. Combine 1 1/4 cups flour and yeast mixture in a large mixing bowl; beat at medium speed of an electric mixer until blended. Stir in enough of 2 to 2 1/4 cups flour to make a soft dough; let stand 10 minutes. Stir dough gently for a few seconds; cover and let stand 40 minutes, stirring every 10 minutes.
Sprinkle 2 tablespoons flour evenly over work surface. Turn dough out onto floured surface, and divide in half. Flatten 1 portion of dough into an oval on floured surface. Fold dough over lengthwise; flatten with open hand. Fold again, and roll between palms of hands into a 17-inch rope. Pinch ends of rope to seal. Repeat procedure with remaining portion of dough. Place dough in two French bread pans coated with cooking spray. Using a sharp knife, cut 1/2-inch-deep slits across tops of loaves. Cover and let rise in a warm place (85°), free from drafts, 20 minutes or until doubled in bulk.
Preheat oven to 400°.
Combine egg white and 1 tablespoon water; brush mixture evenly over loaves. Bake at 400° for 15 minutes or until loaves sound hollow when tapped.
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