Middle East Summit Jointly Held by Color Star and Hurun Bound for Worldwide Attention as Digital Technology Paves the Way to Global Wealth

NEW YORK, Dec. 22, 2022 /PRNewswire/ -- Color Star Technology Co., Ltd. (Nasdaq: ADD) ("Color Star" or the "Company"), an entertainment technology company with a global network that focuses on the application of technology and artificial intelligence in the entertainment industry, recently announced today that it is working with Hurun Report ("Hurun") to bring the Hurun Summit (the "Summit") to the UAE between the 23rd and 25th of January, 2023. The news has quickly attracted attention from both within and outside the industry. In response, Color Star has assembled a dedicated technical team and opened a digital exhibition hall to maximize the success and promotion of the Summit.

Last month, Hurun had already successfully held the America U30 Summit 2022 in Los Angeles to great reception. The summit was attended by America's best and upcoming companies, venture capitals, and entrepreneurs. Through this event, industry experts shared their industry experience and market analysis, and new business channels and platforms were also established to help expand the market. Due to its effectiveness, Hurun's annual summits have become one of the most sought-after events for many companies and elite experts around the world. The Middle East is a particularly important region, where digital technology has become the new secret to wealth as global markets continue to change in recent years. This is one of the reasons why there is so much interest in the upcoming UAE Summit, as the digital economy in the Middle East is growing particularly rapidly. In addition, the partnership between Color Star, a technology company that is publicly listed on NASDAQ in the US, and one of the world's top wealth advisory firms such as Hurun, will undoubtedly bring about an amazing show that will attract a lot of attention. So far, the number of companies that have registered for the event has greatly exceeded the initial expectations of both companies. In this regard, Color Star has already crafted a comprehensive plan from the beginning of the cooperation. Within its metaverse software, ColorWorld Metaverse, Color Star will create a digital exhibition hall, where users worldwide will be able to register themselves for the event. At the same time, the digital exhibition hall will be synchronized with the offline exhibition and will exhibit relevant information and the list of companies attending, in real time, in order to promote the Summit and its featured companies.

Farhan Qadir, CEO of Color Star, said: "Our technical team is currently working hard to develop various digital technologies for the Summit, and we have also assembled a team of ground staff to work with the Hurun team on the offline exhibition. We are playing to our strengths in order to make the show a great success."

About Color Star Technology Co., Ltd.

Color Star Technology Co., Ltd. (Nasdaq: ADD) is an entertainment and education company that provides online entertainment performances and online music education services. Its business operations are conducted through its wholly-owned subsidiaries, Color Metaverse Pte. Ltd. and CACM Group NY, Inc. The Company's online education is provided through its Color World music and entertainment education platform. More information about the Company can be found at www.colorstarinternational.com.

Forward-Looking Statement

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantee of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development, including the development of the metaverse project; product and service demand and acceptance; changes in technology; economic conditions; the growth of the educational and training services market internationally where ADD conducts its business; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward–looking statements to reflect events or circumstances that arise after the date hereof unless required by applicable laws, regulations or rules.

SOURCE Color Star Technology Co., Ltd.