The EP300 PowerPC bus arbiter provides all the necessary functions to arbitrate multiple bus masters directly connected to the PowerPC host bus. The arbiter supports separate address and data bus tenure to realize the high performance allowed by the PowerPC bus architecture. Separate address bus grant and data bus grant signals are provided for each master device on the bus. The arbiter uses sophisticated built-in state machines to coordinate the address bus tenure and the data bus tenure. At any given cycle, up to two simultaneous bus accesses are allowed.