It's not an actual trailer, but it's a promo for the R2 UK DVD. I've never seen the movie in color, so this was a real surprise to me that it is a gorgeous as it is. I saw this film as a kid, in the middle of the night, and it was always in b/w to me. the copy I have now is in b/w, still, and was recorded from a tv station in Boston.
it's a fun little movie, and now I want to see the color version. I could care less about the nudie version, as they aren't even mermaids, just models swimming half naked in the ocean. zzzzzzz.... you can buy the DVD for ten pounds here!