The paper refutes the assumption of Petar Miljković-Pepek that the oldest icons in the treasury of Monastery of King Marko were painted between 1395 and 1405, as a gift the Byzantine empress Helena Dragaš made to the monastery so as to ensure a yearly memorial service for her tragically killed father Constantine. The part of the inscription on the icon of St Demetrios, on which the assumption was based, has been differently interpreted here: it is not actually related to empress Helena but to the military title of Thessalonian megalomartyr, like the rest of the inscription. [Projekat Ministarstva nauke Republike Srbije, br. 177036: Srpska srednjovekovna umetnost i njen evropski kontekst]