Jiang and Su and (independently) Elliott discovered a simple, nuclear, infinite-dimensional C * -algebra Z having the same Elliott invariant as the complex numbers. For a nuclear C * -algebra A with weakly unperforated K * -group the Elliott invariant of A ⊗ Z is isomorphic to that of A. Thus, any simple nuclear C * -algebra A having a weakly unperforated K * -group which does not absorb Z provides a counterexample to Elliott's conjecture that the simple nuclear C * -algebras will be classified by the Elliott invariant. In the sequel we exhibit a separable, infinite-dimensional, stably finite instance of such a non-Z-absorbing algebra A, and so provide a counterexample to the Elliott conjecture for the class of simple, nuclear, infinite-dimensional, stably finite, separable C * -algebras.