In a small bowl, cream butter and sugar until light and fluffy. Beat in extract. Gradually add 1-1/4 cups flour. Knead in remaining flour. Cover and chill for at least 2 hours.
On a lightly floured surface, roll out dough to 1/4 in. thickness. Cut with a 1-1/2 to 2-in. cookie cutter; place on ungreased baking sheets. Beat egg white until foamy; brush over cutouts. Sprinkle with sugar and almonds.
Bake at 350° for 7-8 minutes or until edges begin to brown. Cool on wire racks. Yield: 4 dozen.