First of all, it is not possible to reduce the number of polygons without loosing quality. You have either good quality, or low polygon count... The best you can do to keep the best quality is to reduce the polygons by hand, but it takes some time...
As for an automated poly reduction, there is an ASL plugin called "Poly reducer" that might help you, you can find it here:
http://www.anim8or.com/smf/index.php?topic=1705.msg12724#msg12724There are 2 problems though. First, the plugin only works on triangulated meshes. Second, the plugin is very slow. If your mesh has more than 1000 triangles, the plugin execution will probably take about 10 minutes. I don't recommend trying 1000+ meshes...
If this plugin doesn't do what you want, you'll need to find a good external tool, I can't really help you with that...