How to reduce the size of both a release and debug Microsoft Visual Studio 2008 C++ 64 bit static library, OpenSSL, compiled with MT and MD?

I wish to reduce the size of both a release and debug  Microsoft Visual Studio 2008 64 bit static library, OpenSSL,  compiled with MT and MD separately. I read that the /01 option is really guaranteed  to make the code smaller and that you have to set /LTCG and /GL to No to shrink  the size of the release C++ static library. Also, I read that there is another setting in the the General properties called "No Whole Program Optimization" which might shrink the static  library size.
   Before I try these things which I read, I wish to determine if they are correct and whether there any another Microsoft Visual Studio 2008 compiler and linker options I should try to reduce the size of both the release and debug Microsoft VIsual Studio 2008 C++ OPenSSL static library compiled with MT and MD separately.

Here is my OpenSSL makefile. Please correct it so i can reduce the size of both a release and debug  Microsoft Visual Studio 2008 C++ 64-bit static library, OpenSSL,  compiled with MT and MD

 This makefile has been automatically generated from the OpenSSL distribution.
# This single makefile will build the complete OpenSSL distribution and
# by default leave the 'intertesting' output files in .\out and the stuff
# that needs deleting in .\tmp.
# The file was generated by running 'make makefile.one', which
# does a 'make files', which writes all the environment variables from all
# the makefiles to the file call MINFO.  This file is used by
# util\mk1mf.pl to generate makefile.one.
# The 'makefile per directory' system suites me when developing this
# library and also so I can 'distribute' indervidual library sections.
# The one monster makefile better suits building in non-unix
# environments.

INSTALLTOP=\usr\local\ssl

# Set your compiler options
PLATFORM=VC-WIN64A
CC=cl
CFLAG= /Z7 /MTd /Ox /W3 /Gs0 /GF /Gy /nologo -DWIN32_LEAN_AND_MEAN -DL_ENDIAN -DDSO_WIN32 -DOPENSSL_SYSNAME_WIN32 -DOPENSSL_SYSNAME_WINNT -DUNICODE -D_UNICODE -D_CRT_SECURE_NO_DEPRECATE -D_CRT_NONSTDC_NO_DEPRECATE /Fdout32 -DOPENSSL_NO_IDEA -DOPENSSL_NO_CAMELLIA -DOPENSSL_NO_SEED -DOPENSSL_NO_RC5 -DOPENSSL_NO_MDC2 -DOPENSSL_NO_CMS -DOPENSSL_NO_JPAKE -DOPENSSL_NO_CAPIENG -DOPENSSL_NO_KRB5 -DOPENSSL_NO_DYNAMIC_ENGINE    
APP_CFLAG=
LIB_CFLAG=/Zl
SHLIB_CFLAG=
APP_EX_OBJ=setargv.obj
SHLIB_EX_OBJ=
# add extra libraries to this define, for solaris -lsocket -lnsl would
# be added
EX_LIBS=wsock32.lib gdi32.lib crypt32.lib advapi32.lib user32.lib

# The OpenSSL directory
SRC_D=.

LINK=link
LFLAGS=/nologo /subsystem:console /opt:ref
RSC=rc
FIPSLINK=$(PERL) util\fipslink.pl

AES_ASM_OBJ=
AES_ASM_SRC=
BN_ASM_OBJ=
BN_ASM_SRC=
BNCO_ASM_OBJ=
BNCO_ASM_SRC=
DES_ENC_OBJ=
DES_ENC_SRC=
BF_ENC_OBJ=
BF_ENC_SRC=
CAST_ENC_OBJ=
CAST_ENC_SRC=
RC4_ENC_OBJ=
RC4_ENC_SRC=
RC5_ENC_OBJ=
RC5_ENC_SRC=
MD5_ASM_OBJ=
MD5_ASM_SRC=
SHA1_ASM_OBJ=
SHA1_ASM_SRC=
RMD160_ASM_OBJ=
RMD160_ASM_SRC=
CPUID_ASM_OBJ=
CPUID_ASM_SRC=

# The output directory for everything intersting
OUT_D=out64Z7MTd
# The output directory for all the temporary muck
TMP_D=tmp64Z7MTd
# The output directory for the header files
INC_D=inc64Z7MTd
INCO_D=inc64Z7MTd\openssl

PERL=perl
CP=$(PERL) util/copy.pl
RM=del /Q
RANLIB=
MKDIR=$(PERL) util/mkdir-p.pl
MKLIB=lib /nologo
MLFLAGS=
ASM=ml /nologo /Cp /coff /c /Cx

# FIPS validated module and support file locations

E_PREMAIN_DSO=fips_premain_dso

FIPSLIB_D=\usr\local\ssl\fips-1.0\lib
BASEADDR=0xFB00000
FIPS_PREMAIN_SRC=$(FIPSLIB_D)\fips_premain.c
O_FIPSCANISTER=$(FIPSLIB_D)\fipscanister.lib
FIPS_SHA1_EXE=
PREMAIN_DSO_EXE=$(BIN_D)\fips_premain_dso.exe

######################################################
# You should not need to touch anything below this point
######################################################

E_EXE=openssl
SSL=ssleay32
CRYPTO=libeay32
LIBFIPS=libosslfips


Thank you very much,.