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Getting ora-00990 while giving Grant create directory privilege

Boopathy VasagamMay 31 2010 — edited May 31 2010
Hi,
I need to create a directory (ext_dir_src) in the user 'new_user'.So i have given,
create or replace directory ext_dir_src as '/mark_data/erp/src;

but i was getting an error as:
ORA-01031 insufficient privileges

so i logged in as 'SYSTEM' user and given:
grant create directory to new_user;

but i am getting the following error:
ORA-00990 missing or invalid privileges

Can this privilege be given to 'new_user' from SYSTEM user?
Or my Grant command is wrong?
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Locked on Jun 28 2010
Added on May 31 2010
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