The incident happened around 8.15pm yesterday (January 11th) in Ellens Glen Road.
The man was walking towards Lasswade Road when two males rushed towards him from behind before threatening him and demanding he hand over his possessions.
He handed over his wallet and mobile phone and the suspects fled along Ellen's Glen Road before being lost to sight.
The man was uninjured and notified police after the incident took place.
Police are now appealing for anyone who witnessed anything suspicious to come forward.
The first suspect is described as white, mid 20s, 5ft 10ins tall with an athletic build, short fair hair and a clean-shaven face. He was wearing a brown textile jacket and jeans. He spoke with a local accent and smelled strongly of alcohol.
The second suspect is described as white, mid 20s with a medium build, thin face, brown hair and may have had a short beard. He also spoke with a local accent.
A police spokesman said: 'The two suspects have put the victim through a frightening ordeal, although not injuring him.
'We have a solid description of the men and are keen to speak to anyone who was in the area and may have information that can help us track their movements, both before and after the robbery.
'Similarly, anyone with other information relevant to our enquiries is asked to contact police immediately.'
Anyone with any information can contact Lothian and Borders Police on 0131 311 3131, or Crimestoppers in confidence and complete anonymity on 0800 555 111.
Website address: www.lbp.police.uk
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