rm to mp3 conversion using lame

Converting rm to mp3 in ubuntu.. from the link http://ubuntu-virginia.ubuntuforums.org/showthread.php?t=1110872

#!/bin/sh
inputfile=$1
inputfilename=`basename $1 rm`
ext='mp3'
outputfilename=$inputfilename$ext

echo 'CONVERTING TO WAV FORMAT'
mplayer $inputfile -ao pcm

echo 'CONVERTING WAV FORMAT TO MP3'
lame -h -b 256 audiodump.wav $outputfilename

rm -f audiodump.wav

echo 'DONE...!'

you can use ffmpeg too

ffmpeg -i pancharangi.rm -b 128k pancharangi.mp3