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Web cache is system that is placed between the servers and the clients so as to retrieve the web objects to the clients as quickly as possible. But the algorithms present today are not so efficient to retain the important objects in the web cache. In this paper we analyze several replacement algorithms used in web cache like LFU, LRU and find that sometimes important links are also replaced. Whenever those links are requested again, than that request has to be directed to the server which results in wastage of time. These findings guide us to propose a new underlying architecture over which any of the desired replacement algorithms can be used. Beside replacement factors like recency or frequency used in the replacement we use other factors like Link Rank and Penetration Factor. We divided the web cache into five regions: Mature Region, Young Space, Micro-Cache, Non Popular Object Region and Trash Bin.