ORA-07629: smpall: $EXPREG failure
Cause : While extending the program global area (PGA), VMS system service $EXPREG failed. This often happens when the virtual memory page count quota is exceeded.
Action - How to fix it : DBA Scripts :: www.high-oracle.com/scripts
Examine the system error message and refer to VMS documentation.
Well, the reason for above error is that i have taken the above script from a 11g database and running it on 10g database. 11g has bring some changes in password management. Below code is executed on 11g and user created successfully, which is expected result.