A microprocessor performance monitor and instruction address break point facility are interconnected to provide finer granularity and performance monitoring. The microprocessor is initialized to collect processor statistics preselected prior to performance monitoring. Application start and stop instruction breakpoint addresses are preselected from a software program bounding instructions for which such statistics are desired. An exception handler is installed for instruction address breakpoints (IAB), enabling and disabling the performance monitor and stop addresses, respectively. The IAB register is then initalized to the start address, and the statistics counters are cleared. Upon starting the application, when the application start address instruction is executed, the breakpoint handler obtains control and enables the performance monitor counters, which count the desired statistics after returning from the breakpoint handler. Before returning, the handler sets the IAB register to the stop address. When the application stop address is encountered, the breakpoint handler disables the performance monitor counters, and rearms the start address in the IAB register. The performance monitor counters are then read to determine the desired statistics for the specific sequence of code within the boundaries of the start and stop addresses in the application.