The index passed was not within the valid range

Error Message

Note:
This article pertains to ArcGIS versions 9.x only. Later versions of ArcGIS may contain different functionality, as well as different names and locations for menus, commands and geoprocessing tools.

The following error is returned when building a shapefile network dataset in ArcCatalog:

Error:   
The index passed was not within the valid range.

Cause

The shapefile is corrupted due to an invalid precision.

Solution or Workaround

Re-create the shapefile.