2.3 Code compatibility issue.

When this code is in my theme the page won’t load. This is a pre 2.3 theme so i am curious to see if anyone can see what is wrong with the code.

<ul class="no-list-style">
<?php
global $post;
$myposts = get_posts('numberposts=2');
foreach($myposts as $post) :
setup_postdata($post);
?>

<li><a href="<?php the_permalink(); ?>"><?php the_title(); ?></a> -<em><?php the_time('m/j/y'); ?> at <?php the_time(g:i a); ?></em> <?php the_excerpt(); ?></li>
 <?php endforeach; ?>
 </ul>

Thanks,
Ryan