Arsenal manager Arsene Wenger was dealt another devastating blow at the Reebok Stadium as he saw his team exit a cup competition for the second time inside a week.

Now the Gunners have only the Champions League to aim for with Chelsea already out of sight in the Barclays Premiership.

How the Frenchman must hate modest northern teams. Wigan sent them out of the Carling Cup in midweek, now Bolton ended their hopes of retaining the FA Cup.

Stelios Giannakopoulos grabbed the winner with six minutes to go to secure a place in the fifth round for Sam Allardyce’s side.

Wenger was without a number of big guns with Thierry Henry, Lauren, Gilberto and Dennis Bergkamp all absent.

Wenger turned to youngsters like Abou Diaby, Mathieu Flamini, Johan Djourou and Kerrea Gilbert.

Surprisingly the crowd was only 13,326 for a game which had seen the home side slash ticket prices for.

There was a moment of danger for the home side after two minutes when 19-year-old Frenchman Diaby found himself clear in the six yard box. However he saw his effort deflected to safety.

Played switched to the other end and Ivan Campo’s free-kick caused some alarm in the Arsenal defence.

Goalkeeper Manuel Almunia seemed hesitant and the ball rebounded off Gilbert for a corner.

Bolton kept up the pressure and captain Kevin Nolan delivered a deep cross from the left, only for Campbell to head clear in the eighth minute.

Campo then picked out Jared Borgetti with a clever chip but his header landed safely in Almunia’s arms.

Arsenal won a free-kick 25 yards out in the 15th minute. However Robin Van Persie failed to test goalkeeper Jussi Jaaskelainen with his effort.

Bolton were playing with confidence, hardly surprising considering they had lost only once at home all season.

Nakata picked out Kevin Davies in the 18th minute but he sent his shot high over the bar and into the crowd.

Jaaskelainen had to be alert in the 29th minute to take a ball on the line after Gilbert had swung in the cross.

Diaby, snapped up from Auxerre, was wasteful in the 36th minute after finding himself in space 20 yards out.

He snatched at his effort and it sailed high over the bar, to Bolton’s relief.

Bolton were gaining a lot of possession against a relatively inexperienced side with Campo pulling the strings.

However Almunia was not being tested although he took exception to a high challenge from Nolan.

Ricardo Gardner almost made the breakthrough for Bolton two minutes before half-tie but sent his effort wide under pressure from Gilbert.

Then Reyes was wasteful in stoppage-time, shooting high over the bar after good work from Alexander Hleb.

Arsenal made a flying start to the second half and Freddie Ljungberg fired in a shot in the 46th minute that Tal Ben Haim did well to block.

They were beginning to play at a quick tempo and Van Persie whipped in a cross after 56 minutes which just evaded Senderos at the back post.

Sub Ricardo Vaz Te should have put Bolton ahead in te 60th minute following a superb ball from Nakata. He raced into the area only to screw a shot across the face of the goal.

Arsenal hit back and Van Persie saw his header come back off the top of the bar, then saw another effort deflected into the side netting.

Jaaskelainen did well to turn over a powerful shot from Ljungberg in the 72nd minute and soon after Campbell grazed the bar with a shot.

But Bolton responded and substitute Matt Jansen saw his effort take a deflection and bounce up into the arms of Almunia.

Van Persie was then left red faced in the 83rd minute when he miskicked as he shaped to shoot and ended up on the ground.

And the home side made the decisive breakthrough a minute later when Giannakopoulos got on the blind side of Campbell and powered home a header following a cross from Gardner.

It was the third time he had scored against the Gunners in the past two seasons and it enabled his side to complete a cup and league double.