I can calculate ma*mb on my machine ( Python 2.7.1 |EPD 7.0-2 (64-bit) on 64-bit Ubuntu).
Make sure you use 64-bit Python on a 64-bit OS, as the 17770x20000 double-precision matrix requires 2.8 GB of RAM, which is superior (or very close) to what most 32-bit pen platforms can use.
Depending on your requirements, the use of single-point floats ( numpy.float32 ) may also be possible.
Finally, if your matrices are sparse or structured, you might want to study them to reduce memory requirements.
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