Wired access point/Range extending Airport express

I have a Time capsule and think of getting an Airport express to extend its range. Also I want to put the AE near my TV/DVD player as they can only connect to the internet via ethernet.
Is is possible ot use the AE as a wired acess point, as well as a wirlessrange extender, or can you only do one or the other at one time? can it be done anyway with a combination of the 2 at all?

Many thanks for any help / advice

 

Thanks for that very useful. not clear though if you can use them both at the same time time?
Seems soneone posted that you have to have it on one mode or the other, or can anyone confirm if it can be used as a repeater and a wireless ethernet bridge at the same time.