1.Preheat the oven to 325°.
Coat a 10-inch Bundt pan with non-stick cooking spray, and then dust with the ¼ cup flour, shaking off the excess.
Drain 1 can of peaches, discarding the juice. Arrange the peach slices evenly on the bottom of the pan in the crevices. Set aside.
With an electric mixer on medium speed, beat the oil, egg whites, vanilla extract, and remaining can of peaches with the juice. Then beat in the cake mix for another minute.
Pour the batter carefully and slowly over the peach slices in the prepared pan.
Bake at 325° for 50 – 60 minutes or until a cake tester inserted comes out clean.
Place the pan on a wire rack to completely cool.
Carefully run a knife around the rim of the pan and the middle tube and invert the pan onto a serving plate.
Dust the cake with the confectioner's sugar just before serving.