ORA-12003: materialized view "string"."string" does not exist
Cause : The materialized view with the given owner and name does not exist.
Action - How to fix it : DBA Scripts :: www.high-oracle.com/scripts
Verify inputs and create a materialized view.
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.