Only works via localhost

I’ve got WordPress up and running on a server on my LAN. It works fine and dandy as long as I try to access it in a browser on the server itself: http://localhost/wordpress/
If I try to access it from another machine on my LAN (which is what I really want to do) it doesn’t work so hot, because all links point to “localhost” instead of the static IP (169.254.1.1, for example) for the server.
I can see the blog entries, but it’s not formatted right since the CSS stylesheet can’t load, and links that point to the admin function, etc. don’t work either.
Where do I go to change the “localhost” setting to the static IP? Thanks in advance for any help. 🙂