I have installed ubuntu 10.04 with some customized thmese, codecs, my favourite softwares, proprietary driver (nvidia), wallpapers etc.
I want to create my own linux distro whcih will;
1. Based on my installed system, contains all my favourite softwares.
2. Contains my own linux name and version.
3. The package manager, repos will be same as this installed ubuntu.
In short, I want to create my own linux distro from my installed ubuntu with my own linux_name.
Can you tell me that how can I do that?
Regards

With all due respect, and I'm not saying you're trying to rip off the distribution, but basically what you're trying to do is take credit for other peoples efforts and diluting what is already being diluted a gazillion times over and over and over. With the amount of customization only involving eye candy and installing applications it just does not make any sense to me. You would be better off making backups. Since this probably does not make any sense to you check out tools like Reconstructor, Novo Builder, Remastersys, The Ubuntu Customisation Kit, gNewSense Builder or Ubuntu Builder.

I am not doing this for business purpose. I want to make a privatised distro for myself. As long as it is GNU, it permits do to that.

If you just want a system with your modifications on Ubuntu, that is what is generally referred to as remastering and you can download and install and run it from your installed Ubuntu which will create an iso file you can then burn to a DVD or USB.

Go to the Remastersys site below, read the page then click on the Ubuntu Version tab at the top which explains how to download, install and run remastersys.

http://www.geekconnection.org/remastersys/

Thanks. I will definitly try it when i get back home
Will the iso contain all of my installed softwares and nvidia driver and my personalized grub image and lxdm image also?

Read the link as well as the links on the page I referred you to. You have different options. The "Dist" option will NOT include anything you have in your /home/user directory. The option to include /home/user settings is the Backup option. When you have created the iso and burned it to CD or DVD and boot it, it will boot with isolinux but there will be an installer icon on the Desktop and when you install you can set up Grub. I've never changed anything in Grub before remastering so I don't know if your settings will be saved? I would expect so, but...?