The process $\mathrm{e^+e^-} \rightarrow \mathrm{W^+W^-}\gamma$ is studied using the data collected by the L3 detector at LEP. New results, corresponding to an integrated luminosity of 427.4\,pb$^{-1}$ at centre-of-mass energies from 192~GeV to 207~GeV, are presented. The $\mathrm{W^+W^-}\gamma$ cross sections are measured to be in agreement with Standard Model expectations. No hints of anomalous quartic gauge boson couplings are observed. Limits at 95\% confidence level are derived using also the process $\mathrm{e^+e^-} \rightarrow \nu\bar\nu \gamma\gamma$.