Yes there is. There are differnt ways text can be put into autocad
1) Text
2) Mtext
3) Attribute
The first two you need to edit the text so it has popped up in a window then highlight the text you want to copy and hit 'Ctrl' and 'c' to copy then go into notepad or word and hit 'Ctrl' and 'v' to paste.
The ideal way to do this is attributes that are attached to blocks if you are going to deal with alot of them. Read help under attext in Autocad. You need to set up a file defineing the Tag you want the text from, wether its text or a number, upto how many characters you want(Go big because it will still stop when your text does) and how many decimal places.(usually 000 because your doing text)
You then simple go to tools/attribute extraction. select all the blocks that are involved. Define you output file(ie c:\text.txt) and you can get everything you asked for in one simple group.
Good luck,
Tim