Existing compression algorithms, primarily designed for visible electro-optical (EO) imagery, do not work well for Synthetic Aperture Radar (SAR) data. The best compression ratios achieved to date are less than 10:1 with minimal degradation to the phase data. Previously, phase data has been discarded with only magnitude data saved for analysis. Now that the importance of phase has been recognized for Interferometric Synthetic Aperture Radar (IFSAR), Coherent Change Detection (CCD), and polarimetry, requirements exist to preserve, transmit, and archive the both components. Bandwidth and storage limitations on existing and future platforms make compression of this data a top priority. This paper presents results obtained using a new compression algorithm designed specifically to compress SAR imagery, while preserving both magnitude and phase information at compression ratios of 20:1 and better.