No it doesn't...
No Airport Express support.
AirSync:
♬ Wirelessly sync iTunes music, iTunes playlists, iTunes ratings and playcounts.
♬ Stream music, videos and photos to devices such as Xbox, PS3, Sonos, and Apple TV (black model; AirPort Express not yet supported).
Download Doubletwist app and AirSync app to go with it and your golden. Stream to ATV, Airport Express and extreme, xbox, etc
No Airport Express support.
AirSync:
♬ Wirelessly sync iTunes music, iTunes playlists, iTunes ratings and playcounts.
♬ Stream music, videos and photos to devices such as Xbox, PS3, Sonos, and Apple TV (black model; AirPort Express not yet supported).