Does C:\Java\jdk1.5.0_11\jre\bin\lib\tools.jar actually exist? What files/directories are in the c:\Java\jdk1.5.0_11 directory? You should see:
Everything that you have listed is in the c:\Java\jdk1.5.0_11 directory. However, I cannot find c:\Java\jdk1.5.0_11\jre\bin\lib\tools.jar. In the bin directory of that path there is only a client directory and a server directory.
Sorry, I didn't look closely enough at the directory name. It would appear that you have JAVA_HOME set to c:\Java\jdk1.5.0_11\jre\bin.