AMBASSADOR FINANCIAL <AFGI> UNIT TO BUY BUILDER Ambassador Financial Group Inc said its Ambassador Real Estate Equities Corp, agreed to buy Heritage Quality Construction Co Inc. Ambassador said its unit would purchase 100 pct of Heritage's stock for an initial payment of approximately 500,000 dlrs and subsequent payments in cash over a five-year period equal to 50 pct of the net after-tax profit of Heritage. If the acquisition is consummated, Ambassador said it agreed to contribute 250,000 dlrs to the existing capital of Heritage.