We study the squeezing and statistical properties of the light produced by a three-levelrnlaser whose cavity contains a parametric amplifier and with the cavity mode driven byrncoherent light and coupled to a squeezed vacuum reservoir. We obtain stochastic differentialrnequations associated with the normal ordering using the pertinent master equation.rnMaking use of the solutions of the resulting differential equations, we calculate the quadraturernvariances and squeezing spectrum. We also determine the mean and variance of thernphoton number and the photon number distribution for the cavity mode employing the Qrnfunction. It is found that the parametric amplifier and squeezed vacuum reservoir increasernthe degree of squeezing, but the driving coherent light does not have any effect on thernsqueezing. Moreover, the mean photon number increases considerably due the drivingrncoherent light, the parametric amplifier, and the squeezed vacuum reservoir