You need to do something like this ...
<managed-bean>
<managed-bean-name>myBean</managed-bean-name>
<managed-bean-class>
com.MyBean
</managed-bean-class>
<managed-bean-scope>session</managed-bean-scope>
<managed-property>
<property-name>list</property-name>
<list-entries>
<value-class>javax.faces.model.SelectItem</value-class>
<value>#{selectItem1}</value>
<value>#{selectItem2}</value>
<value>#{selectItem3}</value>
</list-entries>
</managed-property>
</managed-bean>
<managed-bean>
<managed-bean-name>selectItem1</managed-bean-name>
<managed-bean-class>javax.faces.model.SelectItem</managed-bean-class>
<managed-bean-scope>none</managed-bean-scope>
<managed-property>
<property-name>label</property-name>
<property-class>java.lang.String</property-class>
<value>Value1</value>
</managed-property>
<managed-property>
<property-name>value</property-name>
<property-class>java.lang.Object</property-class>
<value>1</value>
</managed-property>
</managed-bean>
<managed-bean>
<managed-bean-name>selectItem2</managed-bean-name>
<managed-bean-class>javax.faces.model.SelectItem</managed-bean-class>
<managed-bean-scope>none</managed-bean-scope>
<managed-property>
<property-name>label</property-name>
<property-class>java.lang.String</property-class>
<value>Value2</value>
</managed-property>
<managed-property>
<property-name>value</property-name>
<property-class>java.lang.Object</property-class>
<value>2</value>
</managed-property>
</managed-bean>
<managed-bean>
<managed-bean-name>selectItem3</managed-bean-name>
<managed-bean-class>javax.faces.model.SelectItem</managed-bean-class>
<managed-bean-scope>none</managed-bean-scope>
<managed-property>
<property-name>label</property-name>
<property-class>java.lang.String</property-class>
<value>Value3</value>
</managed-property>
<managed-property>
<property-name>value</property-name>
<property-class>java.lang.Object</property-class>
<value>3</value>
</managed-property>
</managed-bean>