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Apple has released an updated version of AirPort Utility for Mac OS X Lion. The updated version looks a lot like the iOS app that is available for iPhone and iPad.
The Airport Utility app allows users to manage their Wi-Fi Network and AirPort base station routers such as AirPort Express, Airport Extreme and Time Capsule.
Here's a description of the AirPort Utility app for Mac according to the knowledge base document on Apple's website: