bzip2 is a freely available, patent free (see below), high-quality data compressor. It typically compresses files to within 10% to 15% of the best available techniques (the PPM family of statistical compressors), whilst being around twice as fast at compression and six times faster at decompression.
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http://hobbes.nmsu.edu/cgi-bin/h-search?key=bzip2&pushbutton=Search
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