This "trade trailer" was used to show potential distributors what the film would look like. It was never released in theatres but recently has been released and has been available to download for some time, or can be seen on certain DVDs. So let's see what it consists of.
 

The opening of this trailer starts in the same was as the actual movie does, with Unicron appearing and the narrator (who talks in English) explaining that it's the year 2005 and tells us about Unicron. Unicron then starts to attack Lithone, but there's some extra animation seen here which isn't used in the movie itself, such as Unicron's left pincer sticking into a city.
 

There's a lot of extra animation used here including more shots of Lithone being destroyed, and extra footage of Unicron's internal systems processing parts of the planet he's eaten.
 

The next scene starts with an Autobot shuttle flying overhead, although the design of it is slightly different to the ones seen in the final version of the movie. As the narrator rambles on about the movie itself, we see Kup telling the Dinobots a war story (the voice recording must have already been done at this point). The Dinobots are all in their robot modes here, and what's more weird of course is that Snarl is present (the one next to Swoop).
 

A couple of shots later we see Hot Rod, Arcee and either Spike or Daniel. It's odd, of course, because in the final version of the movie Hot Rod and Arcee are on different shuttles. Also, there was a slight design change for Hot Rod - here, his Autobot symbol is just under his neck, but this was later changed so it's on the yellow blaze thing in the middle of his chest. There's then another shot of all the Dinobots together. It's also worth mentioning that they always appear in their robot modes in this trailer, but in the movie itself they are mostly in their dinosaur modes.
 

The next scene is the Autobot City battle sequence, but there's loads of footage here which never made it into the film. The scene starts off with an explosion and Blurr cowering from it (it's Blurr's only appearance in the trailer by the way). Next up, Hot Rod dodges a laser blast from behind him and jumps off a tower. Next up, Perceptor watches as the Decepticon jets open fire and parts of the city explode, and then they come after him.
 

Perceptor retreats and finds three Autobots firing back at the Decepticons, but whilst we can make out Springer and Arcee, who's that guy in the middle?
 

It's Ultra Magnus, but he's been kitted out with his diaclone colours, which actually look better than what he ended up getting, in my opinion.
 

As Perceptor points out the huge number of Decepticons attack, Ultra Magnus orders everyone to head inside Autobot City, and he and Arcee begin to transform it. The shot of Arcee using control panels made it into the final movie, as did the shots of all the guns appearing out of the city.
 

Autobot City's guns... actually firing! The transformed city is also presented as being entirely white here. After a short shot of all the guns shooting, the next and final shot of the battle sequence shows the Decepticons trying to avoid the incoming laser blasts and Megatron leads the Decepticons through them.
 

The final part of the trailer concentrates on the fact that Unicron is also a transformer and can transform into the biggest robot ever seen. Galvatron also features here, and the Matrix is entirely pink -it was either a placeholder for it or it was originally what the Matrix was meant to look like (the Marvel comics version of the Matrix which was used in the comics adaption of the movie looks like it, but it's entirely green). There's also an additional shot of a panel lowering beneath Galvatron which is not in the final version of the movie. Another factoid about Unicron's transformation sequence is that there's a different background used here, check this out. And thus ends the trailer.

Japanese text sometimes appears on the screen, but the narrator, Victor Caroli, speaks in English the whole time.

Some of the music used in the trailer is from Star Trek III: The Search for Spock. All of the music may have been from that movie actually, but since I haven't seen it for ages I can't remember. It was most noticeable to me at the end of the trailer.

Kup is the only character to actually say speak in the trailer. Whilst some characters do open and close their mouths to talk, they are always silent as the narrator is talking over them.

The trailer has recently been included on both Sony's and Metrodome's releases of Transformers: The Movie, although the quality for the Metrodome one isn't that great (which is where I got theses screen grabs from). No idea about how good the Sony one is. You can always watch it on YouTube, or download if from here, although sadly it's been watermarked, but the quality is really good.