Seven Minute Frosting II

2 cups white sugar

3 egg whites

3 tablespoons light corn syrup

3 tablespoons cold water

1 teaspoon vanilla extract

In the top of a double boiler, combine the sugar, egg whites, corn syrup, water and vanilla. Place over boiling water and beat with an electric mixer on high speed for 7 minutes, or until frosting forms peaks when beaters are raised. Remove from heat. Use immediately to frost a cooled cake.