Despite claims that Spurs were putting in a bid of £5m for Jermain, Paul says:
"As with all of the other stories of Jermain's departure, I can say again there has been no contact with the club concerned."
Alan is concentrating on another match without the still banned Jermain, but can at least welcome back Tomas Repka after suspension, and he replaces the cup-tied Andy Melville.
"He has been a big player for us and it will be good to see Tomas with a West Ham shirt on again - and I am sure the fans will be chuffed to see him out there," he says.
Of the game overall, Alan reasons:
"It is an opportunity for us to keep our away form going; they are going well at the moment, obviously with two marvellous results - but with our away from we have got to be confident.
"If our home form would have stood up we would be right on top of the league and that is where our problem lies, really.
"It is an opportunity away from the league in a one-off situation and I have always enjoyed these competitions - you can't approach it in anything but a positive way and we will have a great following there.
"It is going to be a special day between two old clubs at a 'new' stadium with some new players.
"They are going particularly well and I am well versed in Wolves having played them in the play-offs last year.
"I have got my own vengeance to seek as I think we should have got through that particular tie and so there is a bit on it for me personally and I hope we can turn them over.
"You get a major injection of funds when you get promoted so obviously you are going to strengthen the team and they will be stronger since we played them in the play-offs.
"But we will compete with them, I am sure there isn't too much between the two teams, and hopefully fortune will favour us on the day."
Alan played in the final in 1990 with Crystal Palace against Manchester United after beating Liverpool 4-3 in a memorable semi-final.
Palace were close to lifting the trophy after extra-time at Wembley until Mark Hughes earned Manchester United a replay they won, and Alan recalls:
"The semi-final was the highlight of my playing career and I was eight minutes away from winning the trophy - it still brings back memories.
"Managers who get knocked out of the FA cup always say the best thing you can do is to get knocked out and so you can concentrate on the league - but I'm lucky enough to have gone all the way to the final and I know what it can generate within a club.
"The top three being in the Champions' League has devalued it at times but it is still a special competition; there's no fear element to it, there is a one-off gung-ho attitude - which is why they are such good games."
Alan says his thought are not focused on Paul Ince - even if those of quite a few travelling fans might be - and he adds:
"Paul has had a fantastic career and I actually played against him when he was here at West Ham so I know what he is about.
"But he is the least of our worries; we have other things to think about in their team but the most important thing is us and we have to build on the best part of our performance from last week's game.
"The main thing for us is to put 90 minutes together and secure a win."
Alan had two debutants against Sheffield United, Jon Harley and Andy Melville, but only Jon can play at Molineux.
"They both performed very well last week and we had four new faces in the back five which goes to show you how pleased I was with the back unit and they came up trumps to some extent - I thought they were excellent," says Alan.
"The last two goals were a shame against Sheffield United - sometimes the roll of the dice don't go your way and I genuinely believe that was the case on Saturday.
"I thought we deserved to win but sometimes it doesn't go for you.
"It felt like a defeat in the dressing room afterwards; we were terrific for long periods of the game and we should have wrapped it up.
"We thought they were pretty fortunate to get the second goal which gave them a bit of a lift and we had chances to win the game - we have to make sure we capitalise on the energy we have got in the team now.
"Defensively the last goal was a real sickener for Stephen who had been great for us in all that pressure."