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Heat oil in large saucepan on medium heat. Add celery, green pepper and onion. Cook and stir 2 to 3 minutes or until crisp-tender. Stir in tomato. Cook and stir until tomato is softened.
Add beans, water, salt, black pepper and thyme. Bring to a boil. Stir in rice. Return to a boil. Reduce heat to low. Cover. Simmer 45 to 55 minutes or until rice is tender and water is absorbed, stirring in additional water as needed.