Isomorphism of Hilbert modules over stably finite C^*-algebras

It is shown that if A is a stably finite C^*-algebra and E is a countably generated Hilbert A-module, then E gives rise to a compact element of the Cuntz semigroup if and only if E is algebraically finitely generated and projective. It follows that if E and F are equivalent in the sense of Coward, Elliott and Ivanescu (CEI) and E is algebraically finitely generated and projective, then E and F are isomorphic. In contrast to this, we exhibit two CEI-equivalent Hilbert modules over a stably finite C^*-algebra that are not isomorphic.