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The Asus WL500G Premium is another router that uses a broadcom wireless chip and is very much like the LinksysWRT54G* routers. You will want to use the generic .trx image for this router. The best way to upload it is using the upgrade utility for Windows that ships with the router. Unfortunately, the upgrade utility on the web interface that ships with this router is incompatible with existing third-party firmware.
Before installing on this router you need to put it in 'diag' mode. To do this, follow the following steps:
Once you are in diag mode you can use the windows utility to upgrade the firmware.
Alternatively, you can connect to the router via tftp when it is in diag mode. Follow these instructions to transfer and install the image via tftp.
Like the broadcom-based Linksys routers, if you already have other 3rd party firmware such as Tomato or DD-WRT installed, you can upgrade directly from there using the generic broadcom .trx file.