Remove custom page from nav

I have added a custom static page for the home page, but I can’t figure out how to remove the template link out of the navigational bar. Can someone please help me?

Thanks!

<div id="topnav">

			<form method="get" id="topsearch"  action="<?php echo get_option('home'); ?>" >
				<input type="text" value="" name="s" id="s" />
				<input type="submit" id="searchsubmit" value="Search" />
			</form>
			<ul>
				<li <?php if ( is_home() ) { ?> class="current_page_item" <?php } ?>></li>
				<?php wp_list_pages('exclude=4,7&title_li='); ?>
			</ul>
		</div>
			<h1><a href="<?php echo get_option('home'); ?>/" title="<?php bloginfo('name'); ?>"><?php bloginfo('name'); ?></a></h1>

		</div>

		<div id="nav">
			<ul id="menu">
				<?php wp_list_categories('title_li=') ?>
			</ul>
		</div>
</div>