Preheat oven to 325�F. Grease one 10" tube pan.
Cream together the butter, cream cheese, and sugar until light. Stir in the vanilla and the almond extracts. Add the flour and the eggs alternately, beginning and ending with the flour. Pour batter into the prepared pan.
Bake at 325�F for 1 hour and 15 minutes or until a toothpick inserted in the center comes out clean.