Soak rice in the 2 C. water for 30 minutes. Drain and discard water.
Sauté rice in butter or margarine until rice is dry and begins to stick to bottom of pan. Add chicken stock or water and bouillon cubes, salt, and paprika. Stir only until well blended.
Cover, bring to boiling point, and cook 12 to 15 minutes or until rice is almost tender. Remove from heat and let stand covered until ready to serve. Rice will absorb all the water and every grain will stand apart.