very good tutorial :
http://www.raywenderlich.com/2876/how-to-localize-an-iphone-app-tutorial
You can do the localization by changing the titles of the UI elements in code:
self.title = NSLocalizedString("News", nil);
If you want to localize your app in Dutch for example, you would have this inDutch.lproj/Localizable.strings
:
"News" = "Nieuws";
You can then do this for every UI element and language.
How to localization on iOS 5
http://www.albertmata.net/articles/introduction-to-internationalization-using-storyboards-on-ios-5.html