SDSS J122958.84+000138.0: A Compact, Optically red galaxy
  We report a new compact galaxy, SDSS J122958.84+000138.0 (SDSS J1229+0001),
which has unique morphological and stellar population properties that are rare
in observations of the nearby universe. SDSS J1229+0001 has an $r$-band
absolute magnitude (M$_{r}$) and half-light radius (R$_{h}$) of $-$17.75 mag
and 520 pc, respectively. Located in a fairly low density environment,
morphologically it is akin to a typical early-type galaxy as it has a smooth
appearance and red colour. But, interestingly, it possesses centrally
concentrated star forming activity with a significant amount of dust. We
present an analysis of structural and stellar population properties using
archival images and VLT/FORS2 spectroscopy. Analysis of UKIDSS H-band image
shows that the observed light distribution is better fitted with two components
S\'ersic function with inner and outer component effective radii 190 and 330
pc, respectively. Whereas, overall half-light radius measured in H-band is much
smaller compared to optical, i.e 290 pc. We prepared a Spectral Energy
Distribution (SED) from optical to FIR and interpret it to derive
star-formation rate, dust mass and stellar mass. We find that the SDSS
J1229+0001 has dust mass M$_{dust}$ = 5.1 $\times$ 10$^{5}$ M$_{\sun}$ with a
dust to stellar mass ratio log(M$_{dust}$/M$_{*}$) = $-$3.5. While the observed
stellar population properties are -- to some extent -- similar to that of a
typical S0 galaxy, a unified view from stellar population and structural
properties may suggests that SDSS J1229+0001 is a {\it smoking gun} example of
a compact early-type galaxy in formation.
