Dropcap disappears when looking at excerpt

I like to start out my blog posts with a dropcap. When I look at the post itself, all is well, but on my category page where I have excerpts of my posts, it disappears. Here is a snippet of code. Do you see what I am doing wrong?

query_posts(“cat=$category”);
if(have_posts()) : while(have_posts()) :the_post(); ?>
<h2>“><?php the_title(); ?></h2>
<table>
<tr>
<td><?php the_post_thumbnail(); ?></td>
<td style=”padding:20px”>
<div>
<?php the_excerpt(‘Read More’); ?>
</div>
</td>
</tr>
<tr><td colspan=”2″><hr></td></tr></table>
<?php endwhile;
endif;
wp_reset_query();?>