Abstruct-The novel feature in the Distributed WebCaching System we developed is that every client node could act as a cache server and share its cache with neighboring nodes. In this paper we address the problem of object replacement in distributed web caches. The problem is a version of the knapsack problem which is known to be NPhard. We propose a heuristic based approach to the problem termed Distributed Web Caching for Global Performance (DWCG). Using event driven simulations, we show that in a Distributed Web Caching environment, the proposed strategy can outperform conventional uncooperative caching strategies such as LFU, LRU and GDSF in terms of LSR, HR and BHR.