Remove roast from the refrigerator about an hour before cooking.

Preheat oven to 450 degrees.

In a mortar and pestle grind peppercorns, salt and rosemary together. You can also do this in a plastic bag and crush with a rolling pin. Combine crushed spices with olive oil.

Rub mixture on the outside of the roast. Pressing it into the sides. Place roast on a roasting rack in a roasting pan.

Cook roast at 450 for 20 minutes. Reduce heat to 325 and cook for an additional 75 minutes. Check roast and continue cooking, keeping an eye on the temperature, until a meat thermometer inserted in the center reaches 120 degrees for medium rare.

Remove roast from oven and allow to rest for 15 minutes. Slice and serve.