The first cyclopentadienylselenium derivative, Se(C 5 Me 5 ) 2 (1), has been prepared by the reaction of LiC 5 Me 5 with selenium bis(diethyldithiocarbamate). Steric crowding about the selenium atom in 1 results in long Se-C bonds and an expanded C-Se-C angle, giving rise to unprecedented reactivity. Treatment of 1 with sources of M(CO) 5 fragments yields the terminal diselenide complexes [M(CO) 5 {Se 2 (C 5 Me 5 ) 2 }] (M ) Cr, W) via reduction within the transition-metal coordination sphere. Reaction of 1 with [Fe 2 (CO) 9 ] leads to loss of both C 5 Me 5 groups and formation of [Fe 3 Se 2 (CO) 9 ].