From the Python Package Index page, setuptools allows you to
Download, build, install, upgrade, and uninstall Python packages — easily!
The PEAK Development Center, setuptools
… is a collection of enhancements to the Python distutils (for Python 2.3.5 and up on most platforms; 64-bit platforms require a minimum of Python 2.4) that allow you to more easily build and distribute Python packages, especially ones that have dependencies on other packages.
To install setuptools in Fedora 12, run the following command as root:
yum install python-setuptools python-setuptools-devel