Heat oven to 300° F. In large mixing bowl, beat cream cheese until fluffy. Gradually beat in sweetened condensed milk until smooth, add egg and 3 tablespoons lemon juice; mix well.

Pour 1/2 the batter into crust. Combine remaining 1 teaspoon lemon juice with preserves in small bowl. Spoon half the preserves over batter.

Pour remaining batter on top. Using knife, swirl remaining preserves into decorative pattern on top.

Bake 55 minutes. Cool. Refrigerate leftovers.