Check out this freeware tool:
mp3DirectCut is a small tool for editing MPEG audio directly. You can remove parts, change the volume, split files or copy regions to several new files. All without the need to decompress your MP3 into a PCM format. This saves work, encoding time and disk space. And there is no quality loss through any re-compressions!
Trim your CD grabbings or directly to MP3 recorded vinyls or tapes. Cut favorit songs from long MP3 radio or live recordings. Make multiple cuts and fades. mp3DirectCut is very fast and gives you extensive control over your MP3s.
Several prelisten functions
MP3 visualisation and VU meter
Fading, volume setting and normalizing
Direct recording of MP3 (ACM and Lame encoder supported)
Layer 2 support
ID3 Tag support (only v1 editable)
Supports Cue Sheets (as used by EAC or Feurio!)