From AIV software:
AIV MP3 cutter can extract clips of any length from a MP3 song.These clips can be put as Ringtones of the cell phones.If the size of a MP3 file is going out of space,then the file can be cut and stored in two CDs by using it.It comes with advanced facilities like display of start point, end point and length of selection.It can play the selected part of the (clip) song.Includes volume controller.Not only this,it also supports editing of MP3 ID3 Tags like Artist name,Title,track number and etc.The latest version of MP3 Cutter is now supported by many popular software like iTunes.
Operating system: Windows 2000/XP/Vista/7
Download
http://download.cnet.com/MP3-Cutter/3000-2170_4-10724232.html
source: download.cnet.com