1Remove fat from beef. Cut beef into 3/4-inch cubes. Toss beef, 1 teaspoon oil, the cornstarch and white pepper in medium glass or plastic bowl. Cover and refrigerate 30 minutes.
2Heat wok or 12-inch skillet over high heat. Add 1 tablespoon of the 2 tablespoons oil; rotate wok to coat side. Add beef; stir-fry about 2 minutes or until beef is brown. Remove beef from wok.
3Add remaining 1 tablespoon oil; rotate wok to coat side. Add chilies, onions, bell pepper, garlic, gingerroot, brown sauce, bamboo shoots and sugar; stir fry 1 minute. Add beef; heat through. Sprinkle with peanuts.