Well, yes, that seems a bit large of a matrix for a program and even worse if you plan to have 2 or 3 of these matrices around.
As you can see, 400,000 x 150, 000 = 60, 000, 000, 000 entries; even if you are using single precision reals which are 4 bytes long, a matrix this size would require 240G of memory...clearly, you DO NOT have the RAM for this...heck, I hardly have the hard disk space for this in my laptop.
You may need to look into sparse matrix techniques.