  We investigate the detailed dynamics of a truncated $\alpha\omega$ dynamo
model with a dynamic $\alpha$ effect. We find the presence of multiple
attractors, including two chaotic attractors with a fractal basin boundary
which merge to form a single attractor as the control parameter is increased.
By considering phase portraits and the scaling of averaged times of transitions
between the two attractors, we demonstrate that this merging is accompanied by
a crisis-induced intermittency. We also find a range of parameter values over
which the system has a fractal parameter dependence for fixed initial
conditions. This is the first time this type of intermittency has been observed
in a dynamo model and it could be of potential importance in accounting for
some forms of intermittency in the solar and stellar output.
