AMBASSADOR FINANCIAL &lt;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.
  

