Preheat oven to 425 degrees F (220 degrees C).

In a large bowl, combine the beef, ketchup, soup mix, bread, Italian-style seasoning and water. Mix well. Shape into a loaf and place into a 9 inch pie pan OR a 9x13 inch baking dish. Baste the top of the meatloaf with ketchup.

Bake at 425 degrees F (220 degrees C) for one hour, or until the edges are just crispy and the top has a crust.

Cool for 15 to 20 minutes before cutting.