Heat oven to 425°. Stir together flour, baking powder and salt in large bowl.
Cut in butter and cheese, using pastry blender or crisscrossing 2 knives, until
mixture looks like coarse crumbs. Stir in olives and buttermilk just until moistened
and soft dough forms.
Place dough on lightly floured surface. Knead 5 or 6 times. Roll or pat dough
to 1/2-inch thickness. Cut with 2 1/2-inch biscuit cutter. Place 1 inch apart on
ungreased cookie sheet.
Bake 13 to 15 minutes or until light golden brown. Serve warm.