The multiple steady states of a monolith catalytic reactor are considered with particular emphasis on whether a stable intermediate steady state exists involving incomplete combustion of the fuel. The existence of such a stable state, which has been observed in the different geometry of a catalytic pellet by Harold and Luss[1], has immediate consequences for the use of these devices in a mode designed for clean combustion, when the emission of unburnt fuel may be unacceptable. Computations using numerical continuation methods reveal the existence of such states in regions of parameter space of practical interest. Additionally, large amplitude oscillations, originating in Hepf bifurcations from steady solutions, are found, again consistent with previous observations.