  We perform a complete study of flavour and CP conserving electroweak
observables in a slight refinement of a recently proposed five--dimensional
model on R^4XS^1/Z_2, where the Higgs is the internal component of a gauge
field and the Lorentz symmetry is broken in the fifth dimension.
  Interestingly enough, the relevant corrections to the electroweak observables
turn out to be of universal type and essentially depend only on the value of
the Higgs mass and on the scale of new physics, in our case the
compactification scale 1/R. The model passes all constraints for 1/R > 4.7 TeV
at 90% C.L., with a moderate fine--tuning in the parameters. The Higgs mass
turns out to be always smaller than 200 GeV although higher values would be
allowed, due to a large correction to the T parameter. The lightest non-SM
states in the model are typically colored fermions with a mass of order 1-2
TeV.
