Adding “Read” More to excerpt…

I am trying to add a read more link ot the_excerpt on my home page.
I want to display the latest post from category 1 as well as the editable content for the page.

For this I think I am using two loops but can’t get a read more link to come up for my excerpt. What may be going on?

http://www.bobdavisrealty.com

<?php
 global $post;
 $myposts = get_posts('numberposts=5&category=1');
 foreach($myposts as $post) :
 ?>
<h2> <a href="<?php the_permalink(); ?>"><?php the_title(); ?></a></h2>
<?php the_excerpt('Read the rest of this entry...'); ?>

 <?php endforeach; ?>

<?php if (have_posts()) : while (have_posts()) : the_post(); ?>

<div class="archivearticle">

<div class="title">
</div> <!-- Title div -->

<div class="postcontent">

<?php the_content(); ?>

<p><?php edit_post_link('Edit This Page', ''); ?></p>

</div> <!-- Post content div -->

</div> <!-- Latest article div -->

<?php endwhile; ?>

<div class="pagination">

			<div class="alignleft"><?php next_posts_link('&laquo; Older Entries'); ?></div>

			<div class="alignright"><?php previous_posts_link('Newer Entries &raquo;'); ?></div>

</div>

	<?php else : ?>

		<h1>Not Found</h1>

		<p>Sorry, but you are looking for something that isn't here.</p>

	<?php endif; ?>