2,4-Bis(phenyl)-1,3-diselenadiphosphetane-2,4-diselenide, [PhP(Se)(μ-Se)]2, Woollins' reagent (WR), reacts with dry KF or tetrabutylammonium fluoride (TBAF) at room temperature generating the corresponding potassium and tetrabutylammonium phenyldiselenofluorophosphinates 1 and 2 in almost quantitative yields. Treating 1 with equimolar amounts of tetraphenylphosphonium chloride or 1,3-dimesityl-1H-imidazol-3-ium chloride in THF at room temperature afforded the corresponding organic adducts 3 and 4 in 90% and 87% yields. Reaction of 1 with mono- and dihalogenated alkanes gave a series of esters of phenylphosphonofluoridodiselenoates 5-8 and 9 in 79-93% yields. Two representative crystal structures are reported.