  We study the supergravity hybrid inflation model of Ref.[1] in the presence
of a modulus field. The eta-problem is solved by a shift symmetry for the
inflaton, which protects the inflaton mass even in the presence of the modulus
field. Inflation is (nearly) unaffected by moduli stabilization, provided the
scale of supersymmetry breaking in the post-inflation vacuum is small.
Therefore the model has the nice phenomenology that it combines low scale
supersymmetry breaking with high scale (grand unification scale) inflation.
