Basic WordPress Loop

<div id="featured_posts">
<?php $sub_loop_1 = new WP_Query("cat=1&showposts=1"); while ($sub_loop_1->have_posts()) : $sub_loop_1->the_post(); ?>
<div>
<a href="<?php the_permalink(); ?>" /><h2 class="featured_post_title"><?php the_title(); ?></h2></a>
<p class="featured_post_excerpt"><?php the_excerpt(); ?></p>
</div>
<?php endwhile; ?>
</div>