Outputting the_excerpt

Hi,

I want to output the last 3 posts abd the_excerpt for each. The_excerpt does not output in my example.

<?php
 global $post;
 $myposts = get_posts('numberposts=5&amp;offset=0');
 foreach($myposts as $post) :
 ?>
    <li><a href="<?php the_permalink(); ?>"><?php the_title(); ?></a>  <?php  the_excerpt(); ?></li>
 <?php endforeach; ?>
 </ul>
</div>