Exporting as mp3

Just downloaded 2.02 and dowloaded the lame encoder. When I export the file it says to save as a wav file. how do I get lame to convert it to an mp3 to hear back on my real player?

When you Export, there should be a Format selector. See pix.
Screen shot 2013-01-03 at 7.19.41 PM.png

Thanks, Got it!