ORA-29342: user string does not exist in the database
Cause : The referred user is one of the owners of data in the pluggable set. This user does not exist in the database.
Action - How to fix it : DBA Scripts :: www.high-oracle.com/scripts
Consider either creating the user in the database or map the user to a different user via FROM_USER and TO_USER import options.
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.