Sure.  Use the Reports module to make a list of users from the appropriate group.  Something like

SELECT     Users.Username, Users.FirstName, Users.LastName, Users.Email
FROM         Users INNER JOIN
                      UserRoles ON Users.UserID = UserRoles.UserID INNER JOIN
                      Roles ON UserRoles.RoleID = Roles.RoleID
WHERE     (Roles.RoleName = 'Subscribers')

Replace 'Subcribers' with the appropirate role name.

You can copy and paste the report output into Excel.

If you want to automate this, I believe that you can replace the Grid Visualizer with the Microsoft ReportViewer Visualizer (this is a separate install and you'll find information in the Reports module forum.  I haven't done it so, if you use it, please let us know how you did it.  I think that it's possible to create an Excel file that you can download.