  We investigate the behavior of softly broken $N=2$ SQCD at non-zero bare
theta angle $\theta_0$, using superfield spurions to implement the SUSY
breaking. We find a first-order phase transition as $\theta_0$ is varied from
zero to $2 \pi$, in agreement with a prediction of `t Hooft. The low-energy
theta angle $\theta_{eff}$, which determines the effective charges of dyonic
excitations, has a complicated dependence on $\theta_0$ and breaking
parameters.
