Hibernian have rejected a £3m bid from Charlton for midfielders Kevin Thomson and Scott Brown.
Thomson (left) and Brown have impressed for Hibs this season
Chairman Rod Petrie told the club's website he had rejected the offer because the pair had an important role to play at Easter Road this season.
Brown, 21, had a transfer request rejected by the Edinburgh club earlier this month.
"Contrary to speculation, this is the only offer we have received for either player from any club," said Petrie.
Brown and club captain Thomson signed long-term contracts in March but their agent, Willie McKay, launched a very public campaign to improve their terms.
Both Kevin and Scott have an important contribution to make to the club's success
Petrie said Charlton had expressed an interest in the pair two weeks ago, but did not make an official bid until Tuesday.
But he said the Edinburgh club were reluctant to part with two players who could help them through a difficult spell of games.
"Everyone knows we are entering an important run of games over the festive period," Petrie said.
"We are one of the teams competing at the upper end of what is a very competitive Bank of Scotland Premier League.
"We are also about to embark on our Tennent's Scottish Cup campaign and have a CIS Insurance Cup semi-final to look forward to at the end of January.
"Both Kevin and Scott have an important contribution to make to the club's success in each of these competitions."
Brown is under contract until 2009, while Thomson, 23, is tied up until 2010.
League Two side Wycombe Wanderers sent Charlton crashing out of the Carling Cup with a 1-0 win in the quarter-final clash at The Valley on Tuesday.