EXHIBIT 99.3

                         AMETHYST FINANCIAL COMPANY LTD.

                          NOTICE OF GUARANTEED DELIVERY
                                       FOR
                            TENDER OF ALL OUTSTANDING

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                      11 3/4% SENIOR SECURED NOTES DUE 2001
                                 IN EXCHANGE FOR
                                   REGISTERED
                      11 3/4% SENIOR SECURED NOTES DUE 2001
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      This form, or one substantially equivalent hereto, must be used by a
holder to accept the Exchange Offer of Amethyst Financial Company Ltd. (the
"Company") and to tender 11 3/4% Senior Secured Notes due 2001 (the "Old Notes")
to the Exchange Agent pursuant to the guaranteed delivery procedures described
in "The Exchange Offer -- Guaranteed Delivery Procedures" of the Company's
prospectus dated _______, 2000 and in Instruction 2 to the related letter of
transmittal. Any holder who wishes to tender Old Notes pursuant to such
guaranteed delivery procedures must ensure that Wilmington Trust Company, as
exchange agent (the "Exchange Agent"), receives this notice of guaranteed
delivery, properly completed and duly executed, prior to the Expiration Date (as
defined below) of the Exchange Offer. Capitalized terms used but not defined
herein have the meanings ascribed to them in the letter of transmittal.

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THE EXCHANGE OFFER WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON ________,
2000, UNLESS EXTENDED (THE "EXPIRATION DATE"). OUTSTANDING NOTES TENDERED IN THE
EXCHANGE OFFER MAY BE WITHDRAWN AT ANY TIME PRIOR TO 5:00 P.M., NEW YORK CITY
TIME, ON THE EXPIRATION DATE FOR THE EXCHANGE OFFER.
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                         DELIVER TO THE EXCHANGE AGENT:

                            WILMINGTON TRUST COMPANY
                                 (301) 651-1562

                            BY HAND, COURIER OR MAIL
                             (IF BY MAIL, REGISTERED
                                OR CERTIFIED MAIL
                                  RECOMMENDED):

                            Wilmington Trust Company
                               Rodney Square North
                            1100 North Market Street
                              Wilmington, Delaware
                                   19890-0001
                        Attn: Corporate Trust Operations

            BY FACSIMILE TRANSMISSION (ELIGIBLE INSTITUTIONS ONLY):

                                (302) 651-1079
                      Attention: Corporate Trust Department

                              CONFIRM BY TELEPHONE:

                                (302) 651-1562
                              -------------------

      DELIVERY OF THIS INSTRUMENT TO AN ADDRESS OTHER THAN AS SET FORTH ABOVE OR
TRANSMISSION OF INSTRUCTIONS VIA A FACSIMILE NUMBER OTHER THAN THE ONE LISTED
ABOVE WILL NOT CONSTITUTE A VALID DELIVERY. THE INSTRUCTIONS ACCOMPANYING THIS
NOTICE OF GUARANTEED DELIVERY SHOULD BE READ CAREFULLY BEFORE THE NOTICE OF
GUARANTEED DELIVERY IS COMPLETED.

      This notice of guaranteed delivery is not to be used to guarantee
signatures. If a signature on a letter of transmittal is required to be
guaranteed by an "Eligible Institution" under the instructions thereto, such
signature guarantee must appear in the applicable space in the box provided on
the letter of transmittal for guarantee of signatures.

Ladies and Gentlemen:

      The undersigned hereby tenders to the Company, in accordance with the
Company's offer, upon the terms and subject to the conditions set forth in the
prospectus and the related letter of transmittal, receipt of which is hereby
acknowledged, the principal amount of Old Notes set forth below pursuant to the
guaranteed delivery procedures set forth in the prospectus under the caption
"The Exchange Offer -- Guaranteed Delivery Procedures" and in Instruction 2 of
the letter of transmittal.

      The undersigned hereby tenders the Old Notes listed below:

                      CERTIFICATE
                     NUMBER(S) (IF
                  KNOWN) OF OLD NOTES                           AGGREGATE
    TITLE OF       OR ACCOUNT NUMBER   AGGREGATE PRINCIPAL      PRINCIPAL
     SERIES            AT THE DTC       AMOUNT REPRESENTED   AMOUNT TENDERED
- - ---------------   -------------------  -------------------   ---------------
11 3/4% Senior
Secured Notes
due 2001
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      PLEASE SIGN AND COMPLETE

Names of Record Holder(s):__________________  Signature(s):___________________

Address:_____________________________

Area Code and Telephone Number(s):___________ Dated:______, 2000
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                             ---------------------

      THIS NOTICE OF GUARANTEED DELIVERY MUST BE SIGNED BY THE REGISTERED
HOLDER(S) OF OLD NOTES EXACTLY AS THE NAME(S) OF SUCH PERSON(S) APPEAR(S) ON
CERTIFICATES FOR OLD NOTES OR ON A SECURITY POSITION LISTING AS THE OWNER OF OLD
NOTES, OR BY PERSON(S) AUTHORIZED TO BECOME HOLDER(S) BY ENDORSEMENTS AND
DOCUMENTS TRANSMITTED WITH THIS NOTICE OF GUARANTEED DELIVERY. IF SIGNATURE IS
BY A TRUSTEE, EXECUTOR, ADMINISTRATOR, GUARDIAN, ATTORNEY-IN-FACT, OFFICER OR
OTHER PERSON ACTING IN A FIDUCIARY OR REPRESENTATIVE CAPACITY, SUCH PERSON MUST
PROVIDE THE FOLLOWING INFORMATION:

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                      PLEASE PRINT NAME(S) AND ADDRESS(ES)

Name(s):
_______________________________________________________________________________

_______________________________________________________________________________

_______________________________________________________________________________

Capacity:

_______________________________________________________________________________

Address(es):

_______________________________________________________________________________

_______________________________________________________________________________


                                    GUARANTEE

                   (Not to be used for signature guarantee)

      The undersigned, a firm which is a member of a registered national
securities exchange or of the National Association of Securities Dealers, Inc.,
a commercial bank or a trust company having an office or correspondent in the
United States, or an "eligible guarantor institution" within the meaning of Rule
17Ad-15 under the Securities Exchange Act of 1934, hereby guarantees deposit
with the Exchange Agent of the letter of transmittal (or facsimile thereof or
agent's message in lieu thereof), together with the Old Notes tendered hereby in
proper form for transfer (or confirmation of the book-entry transfer of such Old
Notes into the Exchange Agent's account at the DTC described in the prospectus
under the caption "The Exchange Offer C Book-Entry Transfer" and in the letter
of transmittal) and any other required documents, all by 5:00 p.m., New York
City time, within three New York Stock Exchange trading days following the
Expiration Date.


Name of Firm:__________________________         ________________________________
                                                     (AUTHORIZED SIGNATURE)

Address:____________________________
                  (INCLUDE ZIP CODE)            Name:___________________________
Area Code and Tel. Number:                      Title:__________________________
                                                   (PLEASE TYPE OR PRINT)

                                                Date:_____________________, 2000


      DO NOT SEND OLD NOTES WITH THIS FORM. ACTUAL SURRENDER OF OLD NOTES MUST
BE MADE PURSUANT TO, AND BE ACCOMPANIED BY, A PROPERLY COMPLETED AND DULY
EXECUTED LETTER OF TRANSMITTAL AND ANY OTHER REQUIRED DOCUMENTS.

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                INSTRUCTIONS FOR NOTICE OF GUARANTEED DELIVERY

      1. DELIVERY OF THIS NOTICE OF GUARANTEED DELIVERY. A properly completed
and duly executed copy of this notice of guaranteed delivery (or facsimile
hereof or an agent's message and notice of guaranteed delivery in lieu hereof)
and any other documents required by this notice of guaranteed delivery with
respect to the Old Notes must be received by the Exchange Agent at its address
set forth herein prior to the Expiration Date of the Exchange Offer. Delivery of
such notice of guaranteed delivery may be made by facsimile transmission, mail
or hand delivery. THE METHOD OF DELIVERY OF THIS NOTICE OF GUARANTEED DELIVERY
AND ANY OTHER REQUIRED DOCUMENTS TO THE EXCHANGE AGENT IS AT THE ELECTION AND
SOLE RISK OF THE HOLDER, AND THE DELIVERY WILL BE DEEMED MADE ONLY WHEN ACTUALLY
RECEIVED BY THE EXCHANGE AGENT. If delivery is by mail, registered mail with
return receipt requested, properly insured, is recommended. As an alternative to
delivery by mail, the holders may wish to consider using an overnight or hand
delivery service. In all cases, sufficient time should be allowed to assure
timely delivery. For a description of the guaranteed delivery procedures, see
Instruction 2 of the letter of transmittal.

      2. SIGNATURES ON THIS NOTICE OF GUARANTEED DELIVERY. If this notice of
guaranteed delivery (or facsimile hereof) is signed by the registered holder(s)
of the Old Notes referred to herein, the signature(s) must correspond exactly
with the name(s) as written on the face of the Old Notes without alteration,
enlargement or any change whatsoever. If this notice of guaranteed delivery (or
facsimile hereof) is signed by a participant in the DTC whose name appears on a
security position listing as the owner of the Old Notes, the signature must
correspond with the name as it appears on the security position listing as the
owner of the Old Notes.

      If this notice of guaranteed delivery (or facsimile hereof) is signed by a
person other than the registered holder(s) of any Old Notes listed or a
participant of the DTC, this notice of guaranteed delivery must be accompanied
by appropriate bond powers, signed as the name(s) of the registered holder(s)
appear(s) on the Old Notes or signed as the name(s) of the participant appears
on the DTC's security position listing.

      If this notice of guaranteed delivery (or facsimile hereof) is signed by a
trustee, executor, administrator, guardian, attorney-in-fact, officer of a
corporation or other person acting in a fiduciary or representative capacity,
such person should so indicate when signing and submit herewith evidence
satisfactory to the Exchange Agent of such person's authority to so act.

      3. REQUESTS FOR ASSISTANCE OR ADDITIONAL COPIES. Questions and requests
for assistance and requests for additional copies of the prospectus and this
notice of guaranteed delivery may be directed to the Exchange Agent at the
address set forth on the cover page hereof. Holders may also contact their
broker, dealer, commercial bank, trust company or other nominee for assistance
concerning the Exchange Offer.

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