In　order　to　apply　the　low　bit-rate　speech　coding　algorithm　to　the　real　speech　processing　system,　a　real-time　speech　compression　system　based　on　TMS320VC5410　fixed-point　DSP　at　low　bit-rate　is　introduced　in　this　paper.　A　high-quality　4　kb/s　dispersed-pulse　CELP　algorithm　is　adopted　in　this　system.　The　functions　of　data　collection,　processing　and　playback　are　implemented　by　fixed-point　DSP　programs　in　assembly　language.　About　31　K　memory　spaces　are　consumed　by　this　system　and　the　complexity　of　this　algorithm　is　about　54.2　million　instruments　per　second.　Objective　test　indicated　there　is　no　perceptual　difference　for　the　reconstructed　speech　quality　compared　with　the　original　C　programming　result.　So　this　speech　processing　system　can　be　applied　to　real-time　speech　compression.