Excel memory limits
 
If you experience the Excel message "Out of Memory" you have have exceeded the memory limit of your Excel version.
 
The limits are:
 
Excel version:                  Memory limit:
95, 97, 2000                    64MB formula memory
2002                               128MB formula memory
2003                               1GB
2007                               2GB
2010 (32bit)                    2GB
2010 (64bit)                    8000GB = 8TB
 
Source:
http://www.decisionmodels.com/memlimitsc.htm