The PHP Accelerator provides a high performance caching/optimising solution capable of accelerating PHP scripts by typically 2 to 4 times, although over 9 times has been reported on some large sites, and rivals the best alternatives. In addition PHPA can be very effective at reducing load average and reducing file I/O because cached scripts executed from a specially designed shared memory cache. A simple code optimiser is also built in, gaining some extra performance and reducing code size. The new release is free of activation keys.