A new flexible atomic and polarizable potential for water simulation is validated and applied to the study of small clusters of water molecules: (H2O)n, n=4, 6 and 8. The lowenergy equilibrium structures obtained are in good agreement with ab initio calculations. Vibrational frequencies are calculated by normal-mode analysis and are in semiquantitative agreement with ab initio data. Binding energies and dipole moments are also satisfactorily reproduced, despite the limited number of parameters of the potential.