agila,
You can try a Tiff with LZW compression setting. It's a lossless file compression ulike JPG.
Does anybody use the new JPG 2000 format from Pegasus, PG2. It's supose to have a very high compression and almost lossless. I also heard it does not work with most browsers though.
Features:
System Requirements - Windows 95/98/2000/ME/XP
Compatible with Photoshop 4, 5 and 6 and Photoshop Elements
Compress and view images in the new JPEG 2000 imaging standard
JPEG 2000 offers higher quality, smaller images
Ideal for large images
Choose either the desired compression ratio or output size
Both lossy and lossless modes are supported
Preview to view the visual effects of changing compression settings
Zoom in to magnify the image and see the results of compression
Supports grayscale image data 8-16 bpp and 24-bit RGB color image files
Free full-featured trial version available for immediate download
http://www.pegasusimaging.com/imagepressj2k.htm