We have investigated the squeezing and statistical properties of the light generatedrnby a three level atom available in an open cavity and pumped to the top levelrnby electron bombardment. We have determined the quantum Langevin equations andrnthe equation of evolution of the atomic operators by considering the vacuum reservoirrnto be a noiseless physical entity and by applying the large-time approximation scheme.rnMoreover, we have obtained the steady state solutions of the equation of evolution of thernatomic operators and the quantum Langevin equations . Then applying the resultingrnsolutions, we have calculated the mean photon number, variance of the photon numberrnand quadrature variance of the separate cavity light modes. We have found that thernmean photon numbers of light modes a and b are the same in the absence as well as inrnthe presence of spontaneous emission. Light mode a is in a chaotic state when the atomrnis operating well above threshold, or at threshold, or below threshold. On the otherrnhand light mode b is in coherent state when the atom is operating well above threshold.rnFinally, applying the same solution we obtained the mean and variance of the two moderncavity light. The mean and variance of the photon number of the two-mode light isrngreater in the absence than in the presence of spontaneous emission. Moreover, we haverndetermined the quadrature squeezing of the two mode cavity light. It is found that therntwo-mode light is in squeezed state with a maximum quadrature squeezing of 50% belowrnthe coherent state level. The maximum squeezing of the two-mode light occurs whenrnthe atom is operating below vacuum state.