Here is one option-
Add a text object to your report.
Add the text "text: " to it and make it bold.
Next, drag the {table.field2} field from the field explorer to the text object so that it adds it to the text object after "text: ".
Now, right click the text object, and choose format text from the popup.
Under the Common tab, click the X+2 button to the right of Suppress.
Add the following line in the editor:
{table.field1} = ""
Save, Close, and Test.
~Brian