France and Britain on Monday dismissed a video showing jihadists preparing for the Paris attacks in Islamic State (ISIS) territory, AFP reports.

Analysts said the 17-minute propaganda video showed a high level of coordination and planning ahead of the November 13 attacks in which ISIS gunmen and suicide bombers attacked Paris nightspots, killing 130 people.

Entitled "Kill wherever you find them", the video features four Belgians, three French citizens and two Iraqis who took part in the assault. They all died on the night, or in a police raid days later.

The video, produced by ISIS’s Al-Hayat Media Center, shows television news footage from the night of the attacks, as well as clips of the assailants delivering their final messages in French and Arabic.

They call on Muslims living in Europe to carry out lone-wolf attacks and, in particular, threaten Britain.

Images of French President Francois Hollande and British Prime Minister David Cameron are also used, both with targets superimposed on them.

But Hollande, who is on a visit to India, on Monday dismissed the threats, saying,    "Nothing will deter us, no threat will make France waver in the fight against terrorism."

Cameron's office also dismissed the terrorists’ threats in the video, saying it showed "an appalling terrorist group that's clearly in decline and in retreat."

Despite Britain and France downplaying the threats, the European police agency Europol warned in a report on Monday that ISIS was planning more attacks on soft targets in the EU.

Europol chief Rob Wainwright said the group had "developed a new combat style capability to carry out a campaign of large-scale terrorist attacks on a global stage -- with a particular focus in Europe."

The video confirms for the first time that ISIS trained attackers and sent them to carry out an assault in the West. Until now, the group has mostly focused on using propaganda to inspire supporters from afar to strike.

Seven men in military fatigues are shown outdoors, in what appears to be a desert setting, with victims whom they later shoot or behead, while another is seen carrying out target practice.

One of the men who appeared in the video is believed to be Abdelhamid Abaaoud, the so-called “mastermind” of the attack who was killed in a police raid after the attack.

In the video Abaaoud, who also reportedly planned to attack Jewish targets in Paris, declares that ISIS will work to “liberate Palestine”.

The video "portrays an incredible level of planning and integration of the ISIS propaganda apparatus from a very early stage of planning," said Charlie Winter, a researcher at Georgia State University who monitors jihadist propaganda.

"These executions would have taken place months ago... it shows a high degree of patience," he told AFP.

Raffaello Pantucci of the Royal United Services Institute (RUSI) in London said the planning behind the video "specifically highlights how this was a plot that was directed by core ISIS."

With French and Arabic songs playing in the background, the video calls for the murder of Westerners, lyrically chanting the names of the Paris streets Charonne and Voltaire where attacks took place.

It also praises Amedy Coulibaly, who killed four hostages at a Jewish supermarket in January 2015, two days after the Kouachi brothers staged a deadly attack on the Charlie Hebdo magazine, killing 12.

AFP contributed to this report.