In this paper we considered a theoretical evaluation of data and text compression algorithm based on the Burrows-Wheeler Transform (BWT) and General Bidirectional Associative Memory (GBAM). A new data and text lossless compression method, based on the combination of BWT1 and GBAM 2 approaches, is presented. The algorithm was tested on many texts in different formats (ASCII and RTF). The compression ratio achieved is fairly good, on average 28-36%. Decompression is fast.