H.264, MPEG-4 Part 10, or AVC, for Advanced Video Coding, is a digital video codec standard which is noted for achieving very high data compression. It was written by the ITU-T Video Coding Experts Group (VCEG) together with the ISO/IEC Moving Picture Experts Group (MPEG) as the product of a collective partnership effort known as the Joint Video Team (JVT). The ITU-T H.264 standard and the ISO/IEC MPEG-4 Part 10 standard (formally, ISO/IEC 14496-10) are technically identical. The final drafting work on the first version of the standard was completed in May of 2003.
http://en.wikipedia.org/wiki/H.264/MPEG-4_AVC