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JPEG2000 Part 2 supports the use of multicomponent transforms (MCTs) to decorrelate multicomponent images along the component direction. Such point transforms can be performed on arbitrary subsets of components, known as "component collections." These Part 2 extensions have been used for compressing 3-D images in applications such as medical imaging and remote sensing. It is widely believed that the MCT extensions are applicable only to 3-D data. In this letter, we demonstrate their use for compressing N-D datasets for any N ges 3.