Will TC connect to Airport Express?

I have a: MacBook Pro, Apple TV, Xbox and Airport Express which is connected to a router. I would like to have a TC set up next to my Xbox and TV in a different room to my router. Will TC connect with Airport Express to access the internet wirelessly? And if so will i still be able to use my TC as a storage device on my network to play media through my Apple TV and MacBook Pro?

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