1. In a computer system adapted to executing binary translated code, a method for responding to an exception comprising the steps of: defining a plurality of recovery points in the binary translated code, each of said plurality of recovery points comprising an executable instruction; prior to execution of said executable instruction, saving the address of said executable instruction; executing subsequent instructions; detecting an exception; invoking an exception handler; reconfiguring the state of the computer system to reflect the state of the computer system at said executable instruction; using run-time information, translating foreign code beginning at an instruction corresponding to said executable instruction; and determining if said exception re-occurs.