diff --git a/src/cpu.zig b/src/cpu.zig
index 519e1bf..574e6f8 100644
--- a/src/cpu.zig
+++ b/src/cpu.zig
@@ -17,6 +17,7 @@ const blockDataTransfer = @import("cpu/arm/block_data_transfer.zig").blockDataTr
 const branch = @import("cpu/arm/branch.zig").branch;
 const branchAndExchange = @import("cpu/arm/branch.zig").branchAndExchange;
 const softwareInterrupt = @import("cpu/arm/software_interrupt.zig").softwareInterrupt;
+const multiply = @import("cpu/arm/multiply.zig").multiply;
 
 // THUMB Instruction Groups
 const format1 = @import("cpu/thumb/format1.zig").format1;
@@ -448,6 +449,13 @@ fn armPopulate() [0x1000]ArmInstrFn {
                 lut[i] = psrTransfer(I, R, kind);
             }
 
+            if (i >> 6 & 0x3F == 0b000000 and i & 0xF == 0b1001) {
+                const A = i >> 5 & 1 == 1;
+                const S = i >> 4 & 1 == 1;
+
+                lut[i] = multiply(A, S);
+            }
+
             if (i == 0x121) {
                 lut[i] = branchAndExchange;
             }
diff --git a/src/cpu/arm/multiply.zig b/src/cpu/arm/multiply.zig
new file mode 100644
index 0000000..f3f3721
--- /dev/null
+++ b/src/cpu/arm/multiply.zig
@@ -0,0 +1,25 @@
+const std = @import("std");
+
+const Bus = @import("../../Bus.zig");
+const Arm7tdmi = @import("../../cpu.zig").Arm7tdmi;
+const InstrFn = @import("../../cpu.zig").ArmInstrFn;
+
+pub fn multiply(comptime A: bool, comptime S: bool) InstrFn {
+    return struct {
+        fn inner(cpu: *Arm7tdmi, _: *Bus, opcode: u32) void {
+            const rd = opcode >> 16 & 0xF;
+            const rn = opcode >> 12 & 0xF;
+            const rs = opcode >> 8 & 0xF;
+            const rm = opcode & 0xF;
+
+            const result = cpu.r[rm] * cpu.r[rs] + if (A) cpu.r[rn] else 0;
+            cpu.r[rd] = result;
+
+            if (S) {
+                cpu.cpsr.n.write(result >> 31 & 1 == 1);
+                cpu.cpsr.z.write(result == 0);
+                // V is unaffected, C is *actually* undefined in ARMv4
+            }
+        }
+    }.inner;
+}
diff --git a/src/cpu/thumb/format4.zig b/src/cpu/thumb/format4.zig
index 23433b7..80af863 100644
--- a/src/cpu/thumb/format4.zig
+++ b/src/cpu/thumb/format4.zig
@@ -92,7 +92,10 @@ pub fn format4(comptime op: u4) InstrFn {
                     // MUL
                     const result = cpu.r[rs] * cpu.r[rd];
                     cpu.r[rd] = result;
-                    std.debug.panic("[CPU|THUMB|MUL] TODO: Set flags on ALU MUL", .{});
+
+                    cpu.cpsr.n.write(result >> 31 & 1 == 1);
+                    cpu.cpsr.z.write(result == 0);
+                    // V is unaffected, assuming similar behaviour to ARMv4 MUL C is undefined
                 },
                 0xE => {
                     // BIC