Improving Bounds on Penguin Pollution in B -> pi pi

In the presence of penguin contributions, the indirect CP asymmetry in B0(t) -> pi+ pi- measures sin(2\alpha + 2\theta), where 2\theta parametrizes the size of the penguin ``pollution.'' We derive a new upper bound on |2\theta|, requiring the measurement of of BR(B+ -> pi+ pi0) and an upper bound on B00 \equiv {1\over 2} [BR(B0 -> pi0 pi0) + BR(B0bar -> pi0 pi0)]. The new bound is stronger than those previously discussed in the literature. We also present a lower bound on B00. Current data may suggest that it is not very small, in which case \theta can be determined using a complete isospin analysis.