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Christopher Oldfield and Robbie Threlfall will leave Liverpool when their contracts expire on June 30.
The young duo - neither of whom have made a competitive first-team appearance - join Fabio Aurelio and David Martin in being released.
Meanwhile, Australian stopper Dean Bouzanis has committed his future until June 2012.
Five others have been offered fresh terms: David Amoo, Sean Highdale, Steven Irwin, Alex Kacaniklic and Andras Simon.
, robbie threlfall
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