i'd re-write it even if it's basically saying the same thing. soemtimes it's not about what you say, it's how you say it.
improve your content, the grammar, maybe add some adjectives, better syntax, whatever.
think of it this way: it didn't get you in last year, what makes you think it will this year? besides, if you were an adcom, would you want to see a re-applicant submit the same old sh** he submitted the year before?