  We have studied relative-intensity fluctuations for a variable set of
orthogonal elliptic polarization components of a linearly polarized laser beam
traversing a resonant $^{87}$Rb vapor cell. Significant polarization squeezing
at the threshold level (-3dB) required for the implementation of several
continuous variables quantum protocols was observed. The extreme simplicity of
the setup, based on standard polarization components, makes it particularly
convenient for quantum information applications.
