Coat a large pan with non-stick cooking spray. Place corned beef in dish and add water. Cover tightly with aluminum foil and bake for 2 hours; drain liquid.
In a small bowl combine apricot preserves, brown sugar, and soy sauce. Spread the apricot mixture evenly over the corned beef.
Bake uncovered at 350 degrees F (175 degrees C) 25 to 30 more minutes, or until the meat is tender; basting occasionally with pan drippings.