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Advances in digital imaging technologies make increasingly available high quality images characterized by high dynamic range (HDR) of color components. Usual display devices are unable to visualize the information content of HDR images, especially in presence of light. For this reason special compression techniques for image rendering on conventional displays have been developed. In this work, a new technique based on simultaneous compression of low frequency radiance variations and detail enhancement is presented. In this work, a method working in the transform domain of an edge oriented wavelet transform is presented. Low-frequency components and high-resolution wavelet coefficients are separately manipulated before image reconstruction in order to reduce the overall dynamic range. The effectiveness of the technique is shown by means of significant examples.