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You know this would be awesome if one exists, however I would seriously worry about the time it would take to compress a file using a 624MHz chip with a maximum of 32MB of spare ram. It takes a long time even on my laptop with 1GB of ram and a 1.5MHz Pentium M.
I suspect you might not get a utility to do this on the PocketPC but I'll keep an eye out and post if I see anything.
Cheers
Adrian
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