Faye (left) and Traore have cost a combined £4m
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Charlton have signed Newcastle midfielder Amady Faye and Liverpool defender Djimi Traore.
The Addicks have paid £2m each for Senegal international Faye, 29, and 26-year-old Traore.
"We're delighted to have made two quality signings, and they will both improve our first team squad," said Charlton coach Iain Dowie.
"We are also working very hard on several other signings. We hope to make further announcements soon."
Faye was signed for Newcastle by former boss Graeme Souness 19 months ago for a fee in the region of £2m.
But current Magpies boss Glenn Roeder revealed that with so many midfield players in his squad he was happy for Faye to leave.
"He hasn't given me any problems whatsoever," Roeder told the Newcastle website.
"I just felt that with the midfielders we have at the club, it was best not to stand in his way with him being offered the chance of more regular football.
"He was at our game with Villarreal at the weekend, and before he went down to London I wished him all the best for when the transfer went through."
Mali international Traore moved to Liverpool in a £550,000 deal from French club Laval in 1999 but found himself surplus to requirements at Anfield.
Traore was a member of the triumphant Liverpool side that beat AC Milan in Istanbul in May 2005 to win the Champions League and he has made 160 appearances for the Reds.
Bolton and Fulham also expressed an interest in signing the player before Traore opted to sign for the Addicks.