ORA-0092 error when trying to create an external table

For some reason, I always received the following error whenever I attempt to create an
External table.
ORA-0092:missing or invalid option
This is the code that I am using in SQL Plus:
SQL> create table products (
2 product_no number,
3 description varchar2(100),
4 price varchar2(20)
5 )
6 organization EXTERNAL (
7 type oracle_loader
8 default directory PRODUCT_DIR
9 access parameters
10 ( records delimited by newline
11 badfile 'products.bad'
12 logfile 'products.log'
13 fields terminated by ','
14 )
15 location ('products.csv')
16 )
17 reject ('products.csv')
18 )
19 reject limit unlimited
20 /
organization EXTERNAL (
ERROR at line 6:
ORA-00922: missing or invalid option
This is the statement that I used to create my directory:
CREATE DIRECTORY PRODUCT_DIR AS 'd:\products';
Does that directory have to be an actual physical directory in UNIX for this to work, or
will it be looking for a products folder in the d drive of my Windows NT machine?

The directory should exist on the server where Oracle is installed. Since clients can be more than one on various operating
systems, It can not be a directory on the client (since that would not be valid for other clients or even the same user
connecting from a different machine).
Did you install the Standard Edition of Oracle or the Enterprise Edition of Oracle server on your machine?
External Tables option may not be available on Standard Edition.
I have Oracle9i Rel 2 installed on my server and the external tables works fine for me.

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