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7Zip  7Zip Portable
System Req: Win Vista - 10, Linux
Download Page 7ZIP Screenshot

This program has the highest compression ratio of all the freeeware compressors you can download. If you zip alot of files, then this is your program for really shrinking those files

Universal Extractor  Universal Extractor Portable
System Req: Win XP - Vista
Download Page Universal Extractor Screenshot

Allows you extract files from any type of archive file.
If you've ever wanted to not install a program onto your computer and make it portable, then this is for you.
Extract files from Windows Installer (.msi) packages, Inno Setup, executables and zip's. Although it may not work on some files, it is a work in progress and does work on most. It is not intended to replace other archiving programs such as winrar, izarc and others.
A very handy tool that is easy to use and is great for testing programs for portability

Power Archiver 6.11
System Req: Win XP
Download Page Power Archiver Screenshot

A powerful compression utility that lets you compress and decompress files. Supports ZIP, CAB, LHA, BH, TAR, TAR.GZ, and TAR.BZ2. Decompression supports ZIP, CAB, LHA, ARJ, RAR, ARC, ACE, TAR, TAR.GZ and more. Theres many other features as well. Note: Last Freeware version. Get it while you can