What is FreeArc?
FreeArc is a free and open source file archiver developed by Bulat Ziganshin. It uses LZMA, PPMD, TrueAudio and GRzip algorithms with automatic switching by file type, and also uses set of filters—for instance it can remove repetitions from text.
Latest alpha version from August 2012 - http://freearc.org/history/changelog_full.htm
Comments and Reviews
Said about FreeArc as an alternative
i've tested many popular archivers (7z, winrar) but this acheived the highest compression ratio