Color Star Congratulates Villarreal CF on its Centenary

NEW YORK, March 23, 2023 /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, would like to congratulate its soccer partner, Villarreal CF, on its successes throughout its century-long history, and would like to wish the club a future of even greater glory and successes as the two sides continue to deepen their cooperation with sporting projects and events.

Reportedly, Villarreal CF held an extravagant centenary celebration on the 10th of March. More than 20,000 spectators and 600 artists showed up for the occasion. A spectacular show was put on to tie together the iconic moments of Villarreal's 100 years of history. The UEFA Europa League trophy was lifted onto the pitch by Villarreal's first team players - captain Raúl Albiol, vice-captain Manu Trigueros, Gerard Moreno, Dani Parejo and Pau Torres, as well as club president Fernando Roig, to a roaring reception from the 10,000 fans in attendance. As a partner, Color Star was honored to witness this glorious moment for the club. In the last two years, Villarreal has been fiercely competing in major tournaments and won the UEFA Europa League Cup in 2021, and in the latest season of La Liga, the team has also been playing with great bravado.

As a technology-based entertainment company, Color Star has been actively integrating cultural entertainment and celebrities with technology to promote healthy cultural communication to the world through its online app as well as offline events. As part of its cooperation with Villarreal CF, Color Star also accompanies the team on matchdays. The Company is always looking for ways to expand the cooperation and its sports content, and both sides plan to come together to create an online soccer course and organize soccer tournaments in the future. Late last year, Color Star was the exclusive title sponsor of the Color Star European Winter Tour 2022. The Company wishes to cooperate with more top soccer teams and participate in more international sporting events. Color Star plans to create digital scenarios, online games, online courses, and exclusive non-fungible tokens in its ColorWorld Metaverse software to attract soccer fans to register as members. This digital content will work together with major offline tournaments to increase exposure and provide exciting content for online users.

CEO of Color Star, Louis, said: "At this current moment in time, major tournament events are appearing once again as the economy gradually recovers, which is especially good for us. As a tech and entertainment company, we not only have the ability and resources to organize major events, but our software is also unique, and the combination of the two will bring unlimited potential to the business. "

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 and www.colorstar.investorroom.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.