Beat Eggs, Saving The White Of 1 Egg. Stir In Almond Extract. Add Sugar And Almonds. Refrigerate For 2 Hours Or Overnight. Blend Shortening With Flour Using Pastry Blender. Stir In The Water 1 Tablespoon At At Time. Roll Out On Lightly Floured Board. Cut Into 4- Inch Wide Strips. Place Almond Paste Along The Center Of Each Strip. Fold Over The Dough. To Seal Moisten The Long Edge Of Pastry With Egg White And Seal. Length Of The Strip Is Determined By The Shape Of The Letter. Cut Filled Strips And Seal Ends. Place On Cookie Sheet Seamside Down. Form Into Letters. Pressing Edges Securely Together. Brush Tops With Lightly Beated Egg White. Bake At 425 Degrees For 10 Minutes. Prick Holes In The Top Of Each Letter And Return To Oven. Bake At 350 Degrees For 15 Minutes Or Until Lightly Browned. Letters May Be Topped With Powdered Sugar If Desired.