Fatal error: Out of memory (allocated 33554432)

I am getting this message when I am trying to go to Catalog>Priducts from MyAdmin side:

Fatal error: Out of memory (allocated 33554432) (tried to allocate 14024 bytes) in /homepages/40/d359191853/htdocs/store/system/library/image.php on line 34

Problem started when I tried to mass delete products from MyAdmin side.

Already deleted all large images (however there were no any larger then 20 Kb) from the server, but it does not helped.

I am using Version 1.4.9.4.

Please help.

The issue will be with your hosting, and the amount of memory they are allowing your account to consume when running php scripts.

Do not exceed the same error is 3 days. New server was after transport. Although I had to remove the VPS in php.ini memory still could not figure out the value of 512.