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The men were arrested in connection with investigations into parcel bombs sent to Celtic manager Neil Lennon and high-profile supporters of the club.
The men, aged 41 and 43 years old were detained after officers raided a number of properties in Kilwinning, Ayrshire.
Police said they were being held under the Explosives Substances Act (1883).
They will appear at Kilmarnock Sheriff Court.
Detectives launched a major investigation after two bombs were sent to Lennon and one each to lawyer Paul McBride QC and former MSP Trish Godman.
A fifth suspect package, addressed to the offices of Cairde Na H'Eireann (Friends of Ireland) in Glasgow, was also intercepted by officers last month.
All of the parcel bomb packages were found during March and last month.
Yesterday's arrests came as, in a separate incident, a man appeared in court charged with assault after an attack on Lennon at Tynecastle stadium at the Celtic v Hearts game on Wednesday night.
Football chiefs said the recent incidents had brought shame on the Scottish game.
Officers arrested a man after he clambered from the Hearts section of the main stand on to the pitch during a match at Tynecastle stadium in Edinburgh and made towards Lennon.
The manager, who has had to live with round-the-clock security after death threats in the past, was said to have been left ``shaken'' by the incident.
26 year old John Wilson from Edinburgh, has been charged with breach of the peace aggravated by religious prejudice and assault aggravated by religious prejudice.
He appeared at a private hearing at Edinburgh Sheriff Court yesterday afternoon. No plea or declaration was made during the hearing and he was remanded in custody.
Hearts have given him a life ban.
Police were also called to Celtic stadium in Glasgow yesterday after a suspect package believed to have contained a bullet and addressed to Lennon was found.
The police force stressed that the suspicious package discovered at Celtic yesterday morning is not being linked to the parcel bombs inquiry at this time.
They said the investigation is at an early stage and it has not yet been confirmed where the package was sent from.