Same entry (but without 'excellence') in Hesychius delta2041 and elsewhere; and cf. under delta 1229. For arete generally see alpha 3830, alpha 3831.
As Latte on Hesychius suggests, the lemma might be related to Paul's First Epistle to Timothy 6.11: *su\ de\, w)= a)/nqrwpe *qeou=, [...] di/wke de\ dikaiosu/nhn, eu)se/beian, pi/stin, a)ga/phn, u(pomonh/n, prau+paqi/an; "But you, man of God, [flee the love of money and material goods] and pursue righteousness, godliness, faith, love, patience, gentleness" (web address 1); cf. 2 Timothy 2.22, ta\s de\ newterika\s e)piqumi/as feu=ge, di/wke de\ dikaiosu/nhn, pi/stin, a)ga/phn, ei)rh/nhn meta\ tw=n e)pikaloume/nwn to\n *ku/rion e)k kaqara=s kardi/as; "flee from youthful lusts, but pursue righteousness, faith, love, and peace with those who call on the Lord out of a pure heart" (web address 2). Echoes in Basil, Regulae morales 31.845.27 Migne; cf. id. Epistula 42.4.1 ta\s h(dona\s feu=ge, th\n e)gkra/teian di/wke, "flee lust, pursue continence"; Homiliae in Hexaemeron 7.3.55 di/wke de\ a)lh/qeian, ei)likri/neian, a(plo/thta, "pursue truth, transparence, simplicity". The usage of the verb diw/kw with reference to virtue is widespread among Christian writers (cf. also John Chrysostom In Ep. 2 ad Cor. 61.488.4 Migne: tou=to di/wke, filosofi/an kai\ a)reth\n "love of wisdom and virtue, that is what you should follow". However, the expression here looks like a common saying, and one can find several close examples in classical and Hellenistic Greek also: cf. Menander, Sententiae 4.22 *di/wke do/can kai\ a)reth/n, feu=ge yo/gon "pursue glory and excellence, flee blame"; Euripides, Ion 439-440 su/ [...] e)pei\ kratei=s a)reta\s di/wke (web address 3). Bernhardy's suggested correction of the entry to a)reta\s di/wke, rests on this Euripidean passage.