A computational circuit for generating a predicted address value includes an
instruction
field that contains an instruction value. A value immediate field is associated
with the instruction field and includes a offset value and a first subset of lower-order
bits. An effective address cache stores a plurality of higher-order bits of a plurality
of recently-accessed memory addresses and reads out a value corresponding to a
second subset of higher-order bits of a memory address that corresponds to the
first subset of lower-order bits. A circuit concatenates the second subset, the
first subset and the offset value, thereby generating the predicted address value.