The JPEG2000 image compression standard can reduce the number of bytes needed for storage of the original image to 69,331. This is about 6% of the amount of space needed to store the original image and %84 of the space needed to store the JPEG compressed version of the original image. The compressed image is a very good approximation to the original. Moreover the JPEG2000 compressed version of the image does not display the blocky characteristics evident in the JPEG compressed version of the image. While both compression methods are lossy - we can never recover the original image from them - one of the new features of the JPEG2000 image compression standard is the ability to perform lossless compression. While lossless compression does not enjoy the data reduction rates of lossy compression, the savings are still substantial and the original image can be recovered from the compressed version.