The conventional lossless compression of color images is to apply a compression method to each of color components separately, without considering the channel correlation. There had been several methods that consider the channel correlation, but they were confined to the compression of satellite or aerial images only, and the performance of these algorithms to general photos is not satisfactory. This paper proposes a new lossless color image compression method that exploits the correlation between the color components. Specifically, asymmetric sampling is applied to transform an image into mosaic image and the rest, which are compressed separately. By using the information from the compressed mosaic image, the rest images are predicted for further reducing the information to be compressed. Experimental results show that the proposed method improves the compression performance by 35% over the conventional separate compression methods and 10% over the existing methods that exploit the channel correlation.