XML Beans - Escape Chars

I'm trying to escaping & char and getting below exception... just wondering
what am I doing wrong? Any help will be greatly appreciated. Here is my
program.

Exception ==>

org.apache.xmlbeans.XmlException: error: Unexpected character encountered
(lex state 3): ' '
	at org.apache.xmlbeans.impl.store.Locale$SaxLoader.load(Locale.java:3471)
	at org.apache.xmlbeans.impl.store.Locale.parse(Locale.java:706)
	at org.apache.xmlbeans.impl.store.Locale.parseToXmlObject(Locale.java:690)
	at org.apache.xmlbeans.impl.store.Locale.parseToXmlObject(Locale.java:677)
	at
org.apache.xmlbeans.impl.schema.SchemaTypeLoaderBase.parse(SchemaTypeLoaderBase.java:208)
	at org.apache.xmlbeans.XmlObject$Factory.parse(XmlObject.java:633)

Program ==>

public class XMLBeansEscapeChars
{
	public static void main(String[] args)
	{
		try
		{
		String str = "<name>First Name & Last Name</name>";
		
		XmlOptionCharEscapeMap escapes = new XmlOptionCharEscapeMap();
		escapes.addMapping('&', XmlOptionCharEscapeMap.PREDEF_ENTITY);

		XmlOptions xmlOpts = new XmlOptions();
		xmlOpts.setSaveSubstituteCharacters(escapes);
		
		XmlObject xmlObj = XmlObject.Factory.parse(str, xmlOpts);
		
		System.out.println(xmlObj.xmlText());
		}
		catch (Exception ex)
		{		
			ex.printStackTrace();
		}
	}
}

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