The dissociation of excited state Br2 is probed with the novel technique of ultrafast soft x-ray photoelectron spectroscopy. Excited Br2 molecules are prepared in the dissociative (1)Pi(u) state with 80 fs, 400 nm pulses, and a series of photoelectron spectra are obtained during dissociation with pulses of soft x-ray light (47 nm, 26.4 eV, 250 fs). The formation of Br atoms is readily detected and the data support an extremely fast dissociation time for Br2 on the order of 40 fs. Amplitudes of the pump-probe features reveal that the ionization cross section of atomic Br at 47 nm is approximately 40 times larger than that of Br2.