  We determine the phase diagram of liquid supercooled water by extensive
computer simulations using the TIP5P-E model [J. Chem. Phys. {\bf 120}, 6085
(2004)]. We find that the transformation of water into a low density liquid in
the supercooled range strongly enhances the solubility of hydrophobic
particles. The transformation of water into a tetrahedrally structured liquid
is accompanied by a minimum in the hydration entropy and enthalpy. The
corresponding change in sign of the solvation heat capacity indicates a loss of
one characteristic signature of hydrophobic hydration. The observed behavior is
found to be qualitatively in accordance with the predictions of the information
theory model of Garde et al. [Phys. Rev. Lett. {\bf 77}, 4966 (1996)].
