Reply to "Comment on `Polarizability of the pion: no conflict between dispersion theory and chiral perturbation theory'"

We reply to the Comment by Fil'kov and Kashevarov, arXiv:0805.4486 [hep-ph]. We show that the discrepancies between ChPT and dispersion theory, reported for the polarizability of the pion, result from applying dispersion theory to non-analytic functions.