wp if else

<?php 
	$count = 0;
	query_posts('showposts=5');
	if (have_posts()) : while (have_posts()) : the_post(); 
	$count++; 
?>
 
<?php if ($count == 1) : ?> 
       	  		<ul id="featured-main">
					<h3 class="sec-header"><span><?php the_time('F d, Y'); ?></span></h3>
					<li>
                		<h2 class="entry-title"><a href="<?php the_permalink() ?>" title="Permalink to <?php the_title_attribute() ?>" rel="bookmark"><?php the_title() ?></a></h2>
                		<div class="author">By <?php the_author_posts_link(); ?></div>
              			<div class="thumbnail"><a href="<?php the_permalink() ?>" title="Permalink to <?php the_title_attribute() ?>" rel="bookmark"><?php the_post_thumbnail('big-post-thumbnail'); ?></a></div>
 
              			<div class="meta">
        					<span class="date"> <?php the_time('F d, Y'); ?></span>
                    		<span class="categories"><?php the_category(', ') ?></span>
                    		<span class="comments"><?php comments_popup_link('0 Comment', '1 Comment', 
'% Comments', 'comments-link'); ?></span>
        				</div>	
        				<?php the_excerpt(); ?>				
					</li>
            	</ul><!--featured-main-->
 
<?php else : ?>
 
          		<div id="featured-news"><!--still in grid_6-->
            		<ul>
            			<li>
                			<h2><a href="<?php the_permalink() ?>" title="Permalink to <?php the_title_attribute() ?>" rel="bookmark"><?php the_title() ?></a></h2>
                			<div class="meta">
        					<span class="date"> <?php the_time('F d, Y'); ?></span>
                    		<span class="categories"><?php the_category(', ') ?></span>
                    		<span class="comments"><?php comments_popup_link('0 Comment', '1 Comment', 
'% Comments', 'comments-link'); ?></span>
        				</div>	
                    		<?php if(has_post_thumbnail()) { ?>
        						<div class="thumbnail"><a href="<?php the_permalink() ?>" title="Permalink to <?php the_title_attribute() ?>" rel="bookmark"><?php the_post_thumbnail(); ?></a></div>
							<?php } ?>
                    		<?php the_excerpt(); ?>     
 
						</li>     
            		</ul>
            		</div><!--featured-news-->
 
<?php endif; ?>             		
<?php endwhile; wp_reset_query(); ?>	
<?php endif; ?>