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The major drawback of orthogonal frequency division multiplexing (OFDM) is a large peak-to-average power ratio (PAPR). To overcome the PAPR problem, many PAPR reduction methods have been proposed. Partial transmit sequence (PTS) method is a well known method to reduce the PAPR statistics of an OFDM signal. The PTS method can reduce the PAPR by controlling the multiplied weighting factor of sub-block both data sub carrier and clusters. The PTS method can improve PAPR reduction performance very well as increasing a number of weighting factors and clusters. However, the number of side information is proportionally increasing as increased number of weighting factors or/and clutters, which are required to inform the side information to the receiver for recovering the original data. In this paper, we propose the new weighting factor which can improve the PAPR reduction performance better than conventional PTS method. The proposed method doesn't have any additional number of side information and system complexity. The proposed method can achieve both a better PAPR performance and BER performance with keeping the same number of side information when compare with the conventional PTS method. This paper presents various computer simulation results to verify the effectiveness of proposed method.