  We present a study of the quantum properties of two light fields used to
parametric four-wave mixing in a Raman-type atomic system. The system realizes
an effective Hamiltonian of beamsplitter type coupling between the light
fields, which allows to control squeezing and amplitude distribution of the
light fields, as well as realizing their entanglement. The scheme can be
feasibly applied to engineer the quantum properties of two single-mode light
fields in properly chosen input states.
