How to handle 500k rows of data in one Report

I am attempting to export a report in Report Editor that contains a huge amount of data(500K rows) and would like to export the report in excel/csv.
Version is 8.0 and the erro which I get is System.IndexOutOfRangeException: Index was outside the bounds of the array.
When I am trying with excel/csv, the report is always frozen in the job queue. Please suggest how to handle such huge amount of data in one report?