In a small saucepan melt the margarine or butter. Stir in the flour, 1/4 teaspoon salt, 1/8 teaspoon pepper, and dried basil, if using. Add milk all at once.
Cook and stir over medium heat till thickened and bubbly. Cook and stir 1 minute more. Remove from heat. Stir in fresh basil, if using.
Spray four 8-to l0-ounce round baking dishes or 6-ounce custard cups with nonstick coating.
To assemble, spoon about 2 tablespoons basil sauce into each dish. Gently break an egg into the center of each dish; season with salt and pepper. Spoon remaining sauce atop eggs.
Bake in a 350 degree oven for 18 to 20 minutes or till egg is set.
Sprinkle with cheese. Let stand till cheese melts. Garnish with snipped basil, if desired. Makes 4 servings.