In a small saucepan, heat 1 cup water to boiling. Stir in the oats, butter, honey and salt. Let stand until mixture cools to 110°-115°, stirring occasionally. Heat remaining water in microwave to 110°-115°.

In a large bowl, dissolve the yeast in the remaining warm water. Add the egg, oat/honey mixture and 2 cups flour. Mix until smooth. Gradually stir in remaining 2-3 cups flour until a stiff dough forms.

Spread batter evenly into two greased 9x5 inch loaf pans. Smooth tops of loaves. Cover and let rise in a warm place until doubled in size, about 35-40 minutes.

Bake at 375 degrees for 40-45 minutes; brush with melted butter, if desired. Remove from pans to wire racks to cool completely.