We present in this paper a new two-level speech coding method-EMSVBR system,which consists of two subsystems.The core subsystem is based on hybrid coding technique and the subordinate subsystem is based on SBC technique that utilizes wavelet packet to construct SBC filter banks.Bit streams from this EMSVBR codec are layered and its bit rate is variable in wide ranges with the available capacity of networks or with the change of channel characteristic.This new codec demonstrates better performances than other algorithms if they operate at the same rate and therefore is suitable to be used in the cases of VOIP and VOA.