Here are some key features of "7 Zip":

· 7-Zip is free software distributed under the GNU LGPL
· Highest compression ratio in new 7z format format
· Supported formats: 7z, ZIP, CAB, RAR, ARJ, GZIP, BZIP2, TAR, CPIO, RPM and DEB
· For ZIP and GZIP formats 7-Zip provides compression ratio that is 2-10 % better than ratio provided by PKZip and WinZip
· Self-extracting capability for 7z format
· Integration with Windows Shell
· Powerful File Manager
· Powerful command line version
· Plugin for FAR Manager
· Localizations for 40 languages

Download: 7-Zip 4.33 alpha 2