We present XMM-Newton spectra of the Seyfert 2 Galaxy IRAS 00521-7054 . A strong feature at \sim 6 keV ( observer ’ s frame ) can be formally fitted with a strong ( EW= 1.3 \pm 0.3 keV in the rest frame ) and broad Fe K _ { \alpha } line , extending down to 3 keV . The underlying X-ray continuum could be fitted with an absorbed powerlaw ( with \Gamma = 1.8 \pm 0.2 and N _ { H } = 5.9 ^ { +0.6 } _ { -0.7 } \times~ { } 10 ^ { 22 } cm ^ { -2 } ) plus a soft component . If due to relativistically smeared reflection by an X-ray illuminated accretion disk , the spin of the supermassive black hole is constrained to be 0.97 ^ { +0.03 } _ { -0.13 } ( errors at 90 % confidence level for one interesting parameter ) , and the accretion system is viewed at an inclination angle of 37 \pm 4 ^ { \circ } . This would be the first type 2 AGN reported with strong red Fe K \alpha wing detected which demands a fast rotating SMBH . The unusually large EW would suggest that the light bending effect is strong in this source . Alternatively , the spectra could be fitted by a dual absorber model ( though with a global \chi ^ { 2 } higher by \sim 6 for 283 d.o.f ) with N _ { H 1 } = 7.0 \pm 0.8 \times 10 ^ { 22 } cm ^ { -2 } covering 100 % of the X-ray source , and N _ { H 2 } = 21.7 ^ { +5.6 } _ { -5.4 } \times~ { } 10 ^ { 22 } cm ^ { -2 } covering 71 % , which does not require an extra broad Fe K _ { \alpha } line .