"SoX" (Sound eXchange) is a command line program that can convert most popular audio files to most other popular audio file formats. It can optionally change the audio sample data type and apply one or more sound effects to the file during this translation.
Fedora 3 does not come with "sox" compiled with mp3 support. You will need to download the source and recompile for mp3 support and install it. Else you can grab a prebuilt rpm if you are looking for a quick and easy way out. Download mp3 and lame enabled sox via FreshRPMS.net and install it: