Color Star Technology Co., Ltd. (NASDAQ: CSCW) Announces Inclusion in Russell Microcap® Index

NEW YORK,June 9,2021 --Color Star Technology Co.,Ltd. (NASDAQ: CSCW) (hereinafter referred to as "Color Star" or the "Company") announced that it will be added to the Russell Microcap® Index at the conclusion of the 2021 Russell indexes' annual reconstitution,effective at the close of trading on June 25th,2021,based on a preliminary list of additions initially made public on June 4th,2021.

Basil Wilson,the co-CEO of Color Star,commented: "Inclusion in the Russell Microcap Index® is an important achievement for Color Star. It is a testament to the significant progress we've made as a company. We believe that the membership in the Russel Microcap Index will provide our shares with further visibility within the financial community and greater liquidity. We look forward to introducing a wider investor audience to our platform and growth story,and to continuing to execute on our strategy in the second half of the year with several important milestones that further us on the path toward long-term value creation."

Indexes benchmarked by the FTSE Russell,the world's leading index provider,are extensively used by investment managers and institutional investors for index funds; it serves as a tool to measure active investment strategies. Approximately $9 trillion in assets are benchmarked against the Russell U.S. Indexes.

Membership of the well-known Russell Indexes® brings with it numerous benefits including the automatic insertion into the appropriate growth and value style indexes. This inclusion remains in place for one year. FTSE Russell traditionally determines the membership for its Russell Indexes® by objective,market-capitalization rankings and style attributes.

About Color Star Technology

Color Star Technology Co,Ltd. (Nasdaq CM: CSCW) 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 China Entertainment 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 atwww.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; product and service demand and acceptance; changes in technology; economic conditions; the growth of the educational and training services market inChinaand other countries where CSCW 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 atwww.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.

For more information,please contact:

William Tu

SkylineCorporateCommunicationsGroup,LLC

OneRockefellerPlaza,11thFloor

NewYork,NY10020

Office:(646)893-5835

Email:wtu@skylineccg.com

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