Using the Gibbs ensemble Monte Carlo simulations, we have determined vapor-liquid equilibria in a new, reparametrized five-site model (TIP5P-E) of water and compared them with the original TIP5P model of Mahoney and Jorgensen and TIP4P water. It is shown that for vapor-liquid equilibria properties, the new model provides only a marginal improvement over the original model and both models are considerably inferior to the TIP4P model.