A compression algorithm for high quality speech signal using predictive coding techniques is developed. Code-Excited Linear Predictive Coding (CELPC) is one of the techniques to compress speech signal to a bit rate around 4.8 Kbps. A hybrid CELPC and Voice Excited Linear Predictive Coding (VELPC) scheme is developed for speech coding to reduce the complexity of the original CELPC. A speech signal is first divided into two portions, the based-band and high-band respectively, in the frequency domain and then the low portion is coded with CELPC and the high-band portion is coded with VELPC. The experiments show that this new coder can produce synthesized speech with good quality at better bit rates than the original CELPC.